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Find which amounts be reported as merchandise inventory

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Reference no: EM132939660

Problem 1: Which of the following amounts would be reported as Merchandise Inventory on the balance sheet of a company if the cost of an item is $100 and the current replacement cost is $90??

a. 90
b. The average of $90 and $100
c. $100
d. 190

 

Reference no: EM132939660

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