Which of the Following Amounts Would Be Reported for Inventory

question 53

Multiple Choice

Which of the following amounts would be reported for Inventory on the balance sheet if the purchase cost of an item is $85, the current selling price is $79 and the costs of marketing the product is $4?

• A)$81
• B)$75
• C)$79
• D)$85

---

Definitions:

Social Interest

The welfare or well-being of the general public and society as a whole, often considered in economic and policy decisions.

Consumer Sovereignty

The idea that consumers' preferences and choices dictate the types and quantities of goods and services produced by an economy.

Producer Decisions

The selections made by firms regarding the production of goods or services, including what, how, and for whom to produce.

Consumer Demands

The desire, willingness, and ability of consumers to purchase goods and services at various price levels.