Welsh Company Purchased an Item for Inventory That Cost $10

question 142

Multiple Choice

Welsh Company purchased an item for inventory that cost $10 per unit and was marked to sell at $14.It was determined that the replacement cost is $9 per unit.No purchases in the near future are anticipated.Using the lower of cost and net realizable value rule,what is the per unit valuation for inventory?

• A)$9.00
• B)$10.00
• C)$12.00
• D)$14.00

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