REFERENCE: Ref.11_01 The Following Information Pertains to Inventory Held by a Company

question 5

Multiple Choice

REFERENCE: Ref.11_01
The following information pertains to inventory held by a company upon December 31,2008.
-What amount of inventory should be reported under US GAAP?

• A)$25,000.
• B)$21,000.
• C)$20,000.
• D)$4,000.
• E)$5,000.

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Definitions:

Candida

A genus of yeasts, some species of which can cause infections in humans, especially in immunocompromised individuals.

Human Fungal Vaginitis

A condition caused by the overgrowth of fungi in the vagina, leading to inflammation, itching, and discharge.

Baker's Yeast

A type of yeast used in baking to ferment sugars, producing carbon dioxide that leavens bread.

Aspergillus

A genus of molds found in various environments worldwide, some species of which can cause disease in humans and animals.