FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Carla Vista Inc. has selected specific identification as its inventory costing method. At December 31, 2025, it has the following
information for its finished goods:
Replacement value
Cost
Expected selling price
Normal profit margin
Selling costs
$7670
$4720
$7080
10%
20% of expected selling price
At what amount should Carla Vista value its inventory at December 31, 2025?
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Transcribed Image Text:Carla Vista Inc. has selected specific identification as its inventory costing method. At December 31, 2025, it has the following information for its finished goods: Replacement value Cost Expected selling price Normal profit margin Selling costs $7670 $4720 $7080 10% 20% of expected selling price At what amount should Carla Vista value its inventory at December 31, 2025?
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