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A company determined the following values for its inventory

Question - A company determined the following values for its inventory as of the end of its fiscal year:

Historical cost$50,000

Current replacement cost35,000

Net realizable value45,000

Net realizable value less a normal profit margin40,000

Fair value48,000

What amount should be the company report for inventory on its balance sheet?

$35,000

$40,000

$45,000

$48,000

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Accounting Basics: A company determined the following values for its inventory

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Accounting Basics: A company determined the following values for its inventory

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