APOL Company provided the following information related to the ending inventory of its Product X: Historical Cost - P6,800; Replacement cost - P7,000; Selling Price - P10,000; Cost to sell – P1,200; Cost to complete - P1,500. APOL measures its inventory at lower of cost and net realizable value. At what amount should the company's inventory be reported in its Statement of Financial Position? O 7,300 O 7,000 O 6,800 O 5.500 O Answer not given

APOL Company provided the following information related to the ending inventory of its Product X: Historical Cost - P6,800; Replacement cost - P7,000; Selling Price - P10,000; Cost to sell – P1,200; Cost to complete - P1,500. APOL measures its inventory at lower of cost and net realizable value. At what amount should the company's inventory be reported in its Statement of Financial Position? O 7,300 O 7,000 O 6,800 O 5.500 O Answer not given

Name: APOL Company provided the following information related to the ending
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Description: APOL Company provided the following information related to the endinginventory of its Product X: Historical Cost – P6,800; Replacement cost -P7,000; Selling Price P10,000; Cost to sell - P1,200; Cost to complete -P1,500. APOL measures its inventory

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 14EB: If Barcelona Companys ending inventory was actually $122,000, but the cost of consigned goods, with...

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APOL Company provided the following information related to the ending inventory of its Product X: Historical Cost – P6,800; Replacement cost - P7,000; Selling Price - P10,000; Cost to sell - P1,200; Cost to complete - P1,500. APOL measures its inventory at lower of cost and net realizable value. At what amount should the company's inventory be reported in its Statement of Financial Position? 7,300 O 7,000 6,800 5,500 Answer not given
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APOL Company provided the following information related to the ending inventory of its Product X: Historical Cost – P6,800; Replacement cost – P7,000; Selling Price – P10,000; Cost to sell – P1,200; Cost to complete – P1,500. APOL measures its inventory at lower of cost and net realizable value. At what amount should the company’s inventory be reported in its Statement of Financial Position? 7,300 7,000 6,800 5,500