Niteco Company Ended Its Fiscal Year with Inventory Recorded at Its

question 132

Multiple Choice

Niteco Company ended its fiscal year with inventory recorded at its cost of $10,000.Niteco believes it will be able to sell the inventory for approximately $12,000.Due to changes in the market,Niteco would be able to replace this inventory for $9,000.How much should Niteco show for inventory on its year-end balance sheet?

• A)$10,000
• B)$12,000
• C)$9,000
• D)$2,000

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Definitions:

Electrical Currents

The flow of electric charge through a conductor, measured in amperes.

Ohms

A unit of electrical resistance defining the electrical opposition to current flow.

Linear Inequalities

Equations that involve inequalities (like <, ≤, >, ≥) between variables that, when graphed, form lines that split the plane into half-spaces.

System

A collection of rules or methods that dictate how something is executed; a structured plan or approach.