If Inventory Item X Has a Cost of $49,000 and a Net

question 29

Multiple Choice

If inventory item X has a cost of $49,000 and a net realisable value of $60,000 while inventory item Y has a cost of $2,000 and a net realisable value of $500, closing inventory will be valued at:

• A)$60,000.
• B)$62,000.
• C)$51,000.
• D)$49,500.

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Definitions:

Organic Solidarity

A concept in sociology where social cohesion comes from the interdependence of individuals in more advanced societies, as described by Émile Durkheim.

Durkheim

A foundational figure in sociology who studied the social basis of human behavior and the role of social institutions in maintaining societal cohesion.

Mechanical Solidarity

Describes early societies based on similarities and independence.

Anomie

A state of normlessness where society fails to effectively regulate the expectations or behaviors of its members, often resulting in social instability and disintegration.