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What should be the reported value of haskell inventory

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Reference no: EM132953472

Question - Haskell Corporation has determined its year-end inventory on a FIFO basis to be $791,000. Information pertaining to that inventory is as follows:

Selling price $814,000

Costs to sell 38,000

Replacement cost 768,000

What should be the reported value of Haskell's inventory if the company prepares its financial statements according to International Financial Reporting Standards (IFRS)?

Reference no: EM132953472

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