Better Buy Has Six CD Players in Inventory on December

question 87

Multiple Choice

Better Buy has six CD players in inventory on December 31.The players were purchased in November for $170.Price lists from Better Buy's supplier indicate that the same CD player would now cost the company $168.The current sales price for each of the CD players is $320.What would be the amount reported as Inventory on the balance sheet?

• A) $1,008
• B) $1,035
• C) $1,020
• D) $1,920

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Definitions:

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