Switzer Inc has 5 computers which have been part of the inventory for over two years. Each computer cost $600 and originally retailed for $900. At the statement date, each computer has a current replacement cost of $400. How much loss should Switzer Inc record for the year?
a)$1,000
b)$1,500
c)$2,000
d)2,500
A company would not likely use subsidiary ledgers for
a)inventory
b)owners capital
c)equipment
d)accounts reveivable