On December 1, Nowitsky Corporation purchases inventory at a cost of $34,000. On December 15,...
50.1K
Verified Solution
Link Copied!
Question
Accounting
On December 1, Nowitsky Corporation purchases inventory at a cost of $34,000. On December 15, the market value of the inventory was $35,000. On December 31, the market value of the inventory declined to $30,000. What should the carrying value of inventory be on Nowitskys books on December 31, assuming the decrease in inventory value is considered permanent?
A - 35,000
b- 30,000
c- 34000
d- 34500
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.