Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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
Transcribed Image Text:The following data refer to Brompton Company's ending inventory:
Item Code Quantity Unit Cost Unit Market Value
Small
100
$250
$246
Medium
400
150
145
Large
600
170
162
Extra-Large 250
265
270
What is the ending inventory balance if the lower cost or net realizable value rule is applied to
each item of inventory?
A) $248,050
B) $246,050
C) $253,250
D) $252,850
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