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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Misty, Inc. had 24,000 units of ending inventory that were recorded at the cost of $6.00 per unit using the FIFO method. The current replacement cost is $4.75 per unit. Which of the following amounts would be reported as Ending Merchandise Inventory on the balance sheet using the lower-of-cost-or-market rule?
A) $168,000
B) $114,000
C) $258,000
D) $144,000
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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7 years ago
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H3Ko Author
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#2
7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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#3
4 years ago
this is really hard for me i think it is 168,000 but not sure
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