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rjkz [21]
3 years ago
13

The balance sheet value of a firm's inventory is $50,000. Suppose that the firm purchases supplies at a cost of $4,000 and adds

them to inventory. A day later, the market value of the recently purchased supplies changes to $2,500. Assuming no other changes to inventory, and using the historical cost method, what is the final balance sheet value of inventory?
Business
1 answer:
IRINA_888 [86]3 years ago
5 0

Answer:

$54,000

Explanation:

Since it is given that the inventory of the firm in the balance sheet is $50,000 and the purchase cost of supplies is $4,000 that is added in inventory

Also the market value of the inventory i.e. currently purchased is $2,500

That represents it changes rapidly

So here by using the historical method, the final amount of inventory that should be reported in the balance sheet is

= $50,000 + $4,000

= $54,000

The same is to be considered

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