Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. if the cost of an item of inventory is $52.00 and

If the cost of an item of inventory is $52.00 and the current replacement cost...

50.1K

Verified Solution

Question

Accounting

If the cost of an item of inventory is $52.00 and the current replacement cost is $68.00, what is the amount included in inventory according to the lower of cost or market?

$120.00

$52.00

$16.00

$68.00

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

Describe the general cellular components, structures, fibers, and matrix (where applicable) of each type of connective tissue.

Psychology
1.2K views

Describe Gestalt Psychology and its key concepts (in your own words), including how it is different...

Accounting
1.2K views

Discuss your professional and legal responsibilities as an auditor by referring to the Statement of Auditing...

Biology
1.2K views

Which factor describes a population with few individuals making it very susceptible to genetic drift...

Basic Math
1.2K views

a f g x b f g x c f g x d fof x...

Calculus
1.2K views

If f 2 5 and f x 2 for 2 x 5 how small can...

Accounting
1.2K views

Exercise 6-9 (Algo) Variable and Absorption Costing Unit Product Costs and Income Statements (L06-1, LO6-2,...

Accounting
1.2K views

Kindly assist me Prepare all the entries required in the Jail Addition Capital Projects...

Accounting
1.2K views

At the beginning of the year, Oakmont Company bought three used machines from American Manufacturing....

Accounting
1.2K views

X Company purchased a machine by paying a $20,000 down payment and signing a noninterest...

Finance
1.2K views

Explain the process costing system with detailed real life example.

Finance
1.2K views

please answer asap. will upvote. thank in advance! ...