Martha, Inc

question 186

Multiple Choice

Martha, Inc. had 21,000 units of ending inventory that were recorded at the cost of $8.00 per unit using the FIFO method. The current replacement cost is $4.25 per unit. Which of the following amounts would be reported as ending Merchandise Inventory on the balance sheet using the lower-of-cost-or-market rule?

• A) $168,000
• B) $257,250
• C) $189,000
• D) $89,250

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Hereditary Connection

The genetic relationship between organisms, determining the transmission of traits from parents to offspring.

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