Zoe Company Has Provided the Following Values for Its 400

question 100

Multiple Choice

Zoe Company has provided the following values for its 400 units of inventory at the end of 2014:
$\begin{array}{ll}\underline{\text { Per Unit} } &\underline{ \text { Item }} \\\$ 65.00 & \text { Historical cost } \\\$ 54.20 & \text { Replacement cost } \\\$ 54.50 & \text { Net realizable value } \\\$ 35.80 & \text { Normal profit margir }\end{array}$
Under IFRS requirements, the per-unit reported value for Zoe's inventory will be

• A) $55.00
• B) $54.50
• C) $54.20
• D) $53.70

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Definitions:

Minimum Payments

The smallest amount of money that one is required to pay on a debt by a specified due date to avoid defaulting.

Interest Costs

The cost associated with borrowing funds, typically expressed as a percentage of the total amount borrowed.

Self-Interest

That which each firm, property owner, worker, and consumer believes is best for itself and seeks to obtain.

Behavioral Economists

Researchers who study the psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions and how those decisions vary from those implied by classical theory.