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gOOvER gOOvER
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6 years ago
If the cost of an item of inventory is $80 and the current selling price is $75, the amount shown in inventory on the balance sheet under the lower-of-cost-and-net realizable-value rule is:
A) $75.
B) $80.
C) $100.
D) $75 or $80.
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
Authors:
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KryzenKryzen
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6 years ago
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gOOvER Author
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6 years ago
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