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harkovskaia [24]
3 years ago
6

Data related to the inventories of Mountain Ski Equipment and Supplies is presented below:

Business
1 answer:
Ksivusya [100]3 years ago
8 0

Answer:

C) $130,000

Explanation:

Based on the lower of cost or market rule, the valued of the inventory would be

Replacement cost = $130,000

Selling price = $150,000 - $150,000 × 10% = $135,000

After considering the normal gross profit ratio, the value would be

= $135,000 - $150,000 × 20%

= $105,000

If we compare the cost and replacement value, then the less value would be considered i.e $130,000

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