Smart Phones Company Had the Following Balances and Transactions During

question 26

Multiple Choice

Smart Phones Company had the following balances and transactions during 2019. $$\begin{array} { | l | l | } \hline \text { Beginning Inventory } & \text { 20 units at \$73 } \\\hline \text { Tune } 10 & \text { Purchased } 40 \text { units at \$76 } \\\hline \text { December 30 } & \text { Sold 33 units } \\\hline \text { December 31 } & \text { Replacement cost \$78 } \\\hline\end{array}$$ The company maintains its records of inventory on a perpetual basis using the last-in,first-out inventory costing method.Calculate the amount of ending Merchandise Inventory at December 31,2019 using the lower-of-cost-or-market rule.(Round any intermediate calculations two decimal places,and your final answer to the nearest dollar.)

• A) $1,460
• B) $1,992
• C) $2,106
• D) $2,052

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Improper Instructions

Instructions that are incorrect, misleading, or incomplete, potentially leading to errors or legal issues.

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A mistake in the trial court's judgment or procedure that is significant enough to warrant the appellate court reversing the decision.

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A mistake made during a legal process that may impact the fairness or validity of the proceedings or outcome.