Poaup percentage Which of the following amounts would be rep

Poaup percentage Which of the following amounts would be reported as Merchandise Inventory on the balance sheet of a company if the cost of an item is $11 5) 45) 0 and the current replacement cost is $70? A) $110 C) $70 B) $180 D) the average of $70 and $110

Solution

C) $70

Merchandise Inventory would be reported at current replacement cost $70 on the balance sheet.