Robust Inc. has the following information related to an item in its ending inventory. Packit (Item #874)
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Question:
Robust Inc. has the following information related to an item in its ending inventory.
Packit (Item #874) has a cost of $698, a replacement cost of $536, a net realizable value of $624, and a normal profit margin of $28.
What is the lowest cost or market ending inventory value for Packit?
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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