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Home Q & A Board Other Fields Homework Help Business Accounting
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Harrison Harrison
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6 years ago
Consider the following data:

Ending inventory at cost   $115,000
Ending inventory at market   119,000
Cost of goods sold (before consideration of LCNRV rule)   165,000

Which of the following depicts the proper account balance after the application of the LCNRV rule?
A) Ending Inventory balance will be $119,000.
B) Ending Inventory balance will be $115,000.
C) Cost of Goods Sold will be $161,000.
D) Cost of Goods Sold will be $169,000.
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
Authors:
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TheSinTheSin
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6 years ago
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Harrison Author
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6 years ago
Good timing, thanks!
dedricgard
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Yesterday
Smart ... Thanks!
ethom947
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2 hours ago
Brilliant ツ
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