Inventory That Originally Cost $20,000 Was Written Down to Its

question 7

Multiple Choice

Inventory that originally cost $20,000 was written down to its net realizable value of $18,500 in the last accounting period. At the end of the current accounting period, the net realizable value is determined to be $23,000. At what amount should the inventory be reported on the current period's statement of financial position?

• A) $16,000.
• B) $18,500.
• C) $23,000.
• D) $20,000.

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