At December 31, 2011, Bosan Corporation Has 3,500 Units of Model

question 55

Multiple Choice

At December 31, 2011, Bosan Corporation has 3,500 units of model 63 and 2,500 units of model 64 in its ending inventory.Specific data with respect to each product follows: $\begin{array}{lrr}&\text { Model } 63&\text { Model } 64\\\hline \text { Historical cost } & \text { W7800 } & \text { W8700 } \\\text { Net realizable value } & 7700 & 8800\end{array}$
What amount will be reported for inventory on Boson's statement of financial position after the company applies LCNRV?

• A) W54,250,000.
• B) W49,300,000.
• C) W48,950,000.
• D) W48,700,000.

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Definitions:

Reality Principles

The ability of the mind to assess the external world and act upon it rather than based on internal desires.

Internalization

The psychological process by which individuals integrate beliefs, values, standards, or norms into their own value system, making them their own.

Moral Standards

Principles governing what individuals believe to be right or wrong conduct.

Instinctual Drives

Fundamental, innate impulses that compel individuals to act or behave in certain ways, such as hunger or reproduction.