Test: CPA Financial Accounting and Reporting (FAR)

1.

Troy, Inc has inventory with a FIFO cost of $17,730, net realizable value of $17,850, replacement cost of $17,490, and net realizable value less normal profit of $17,545. What amount should Troy report as ending inventory in its balance sheet at year-end?

$64,800

$31,100

$16,400

$32,400

1/15 questions

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