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What would be the amount reported as merchandise inventory

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Problem 1: The Bridal Gift? Shop, Inc. has 11 units in ending merchandise inventory on December 31. The units were purchased in November for $155 each. The price lists from suppliers indicate the current replacement cost of the item to be $161 each. What would be the amount reported as Merchandise Inventory on the balance? sheet?

a. 3,476
b. 1,705
c. 1,771
d. 316

Reference no: EM132939700

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