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  3. 18 of 20 marks the ending inventory of corner stor

18 of 20 Marks The ending inventory of Corner Store Inc. includes items which originally...

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Accounting

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18 of 20 Marks The ending inventory of Corner Store Inc. includes items which originally cost $10,000. These items have a market value of $11,000 and a net realizable value of $9.000 at year end. Accordingly, the inventory should be reported on the company's statement of financial position at: OA. $11,000 OB $10.000 OC. $9,000 OD. $9,500 (the average of $10,000 and $9,000) O E. Another amount that can only be determined by a physical count of the inventory at year end. Unsure woods of 20 Marks Ozak Company reported the following information for a recent year: gross sales, $196,500; sales returns and allowances, $3,700; sales discounts, $1,750 and shipping expenses, $1,400. Ozak's net sales would equal: O A $196,500 OB. $192,800 OC. $191,050 OD $189,650 nsure

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