Gem Company measured inventory at the lower of cost and net realizable value. Data regarding the items in the inventory are: Markers Pens Highlighters Historical cost Selling price Estimated cost to...


Gem Company measured inventory at the lower of cost and<br>net realizable value. Data regarding the items in the<br>inventory are:<br>Markers<br>Pens<br>Highlighters<br>Historical cost<br>Selling price<br>Estimated cost to complete<br>Replacement cost<br>Normal profit margin as a<br>percentage of selling price<br>240,000<br>360,000<br>48,000<br>208,000<br>188,000<br>250,000<br>50,000<br>168,000<br>300,000<br>360,000<br>68,000<br>318,000<br>25%<br>25%<br>10%<br>What is the measurement of the inventory?<br>a. 720,000<br>b. 728,000<br>c. 676,000<br>d. 694,000<br>

Extracted text: Gem Company measured inventory at the lower of cost and net realizable value. Data regarding the items in the inventory are: Markers Pens Highlighters Historical cost Selling price Estimated cost to complete Replacement cost Normal profit margin as a percentage of selling price 240,000 360,000 48,000 208,000 188,000 250,000 50,000 168,000 300,000 360,000 68,000 318,000 25% 25% 10% What is the measurement of the inventory? a. 720,000 b. 728,000 c. 676,000 d. 694,000

Jun 11, 2022
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