use the following data to answer the following question 538741
Apply the lower-of-cost-or-market rule. (LO 5)
Use the following data to answer the following question.
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use the following data to answer the following question 538741
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Ending inventory at cost, December 31,2011 |
17,095 |
|
Ending inventory at replacement cost, December 37, 2011, |
16,545 |
|
Cost of goods sold, balance at December 31,2011 |
250,165 |
|
Sales revenue, balance at December 31 ,2011 |
535,780 |
|
Cash, balance at December 3I,2011 |
165,340 |
What inventory amount will this firm report on its balance sheet at December 31,2011?
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