The following informatiom pertains to item #AB345 of inventory of ABC Educational Systems INC:
Cost $45 per unit
Replacement cost $46 per unit
Selling price $52 per unit
The physcial inventory indicates 900 units of item #AB345 on hand. What amount will be reported on the ABC Educational System, Inc's balance sheet for the inventory item?© BrainMass Inc. brainmass.com June 4, 2020, 3:31 am ad1c9bdddf
Should inventory be recorded at Cost, Replacement Cost, or Selling Price is determined.