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Which amounts would be reported as merchandise inventory

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Reference no: EM132937857

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 $130 and the current replacement cost is $120??

A. The average of $120 and $130
B. $130
C. $120
D. $250

Reference no: EM132937857

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