Best Deals,Inc

question 31

Multiple Choice

Best Deals,Inc.has 10 units in ending merchandise inventory on December 31.The units were purchased in November for $160 each.The price lists from suppliers indicate the current replacement cost of the item to be $162 each.What would be the amount reported as Merchandise Inventory on the balance sheet?

• A)$1,600
• B)$3,220
• C)$322
• D)$1,620

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Definitions:

Endometriosis

A painful, chronic condition where tissue similar to the lining inside the uterus grows outside of it.

Childbearing Age

Typically refers to the years in which a woman is biologically able to conceive and bear children, often considered to be between late teenage years and late 40s.

United States

A country located primarily in North America, consisting of 50 states and a federal district.

Uterine Fibroids

Noncancerous growths in the uterus that often appear during childbearing years, sometimes causing pain or heavy menstrual bleeding.