Consider the Following Information Pertaining to OldWest's Inventory At What Amount Should OldWest Report Its Inventory?
A)$3,213

question 65

Multiple Choice

Consider the following information pertaining to OldWest's inventory:
$$\begin{array} { l c r c } \text { Product } & \text { Quantity } & \text { Cost } & \begin{array} { c } \text { Market } \\\text { Value }\end{array} \\\text { Revolvers } & 16 & \$ 120 & \$ 150 \\\text { Spurs } & 23 & 27 & 22 \\\text { Hats } & 12 & 56 & 40\end{array}$$
At what amount should OldWest report its inventory?

• A)$3,213.
• B)$3,386.
• C)$2,996.
• D)$2,906.

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Definitions:

Foreign Products

Goods or services produced in one country and sold in another, outside of their country of origin.

Duties

Taxes imposed on the import and export of goods.

Protective Tariff

A tax imposed on imports to protect domestic industries from foreign competition by making imported goods more expensive.

Imported Beef

Beef that is brought into a country from another country for sale.