Meyer Co. has the following information available: $$\begin{array} { | l | r | }
\hline \text { Cost of inventory } & \$ 56,000 \
\hline \text { Freight-in } & 6,000 \
\hline \text { Freight-out } & 2,500 \
\hline \text { Packaging costs } & 550 \
\hline \text { Handling costs } & 700 \
\hline
\end{array}$$
What amount of inventory should the company report on the balance sheet?
A) $65,750
B) $63,250
C) $59,750
D) $57,250

Question

Meyer Co. has the following information available: $$\begin{array} { | l | r | } 
\hline \text { Cost of inventory } & \$ 56,000 \
\hline \text { Freight-in } & 6,000 \
\hline \text { Freight-out } & 2,500 \
\hline \text { Packaging costs } & 550 \
\hline \text { Handling costs } & 700 \
\hline
\end{array}$$ 
What amount of inventory should the company report on the balance sheet?
A) $65,750
B) $63,250
C) $59,750
D) $57,250

Quizplus · Accepted Answer

The Answer of Meyer Co. has the following information available: $$\begin{array} { | l | r | } 
\hline \text { Cost of inventory } & \$ 56,000 \
\hline \text { Freight-in } & 6,000 \
\hline \text { Freight-out } & 2,500 \
\hline \text { Packaging costs } & 550 \
\hline \text { Handling costs } & 700 \
\hline
\end{array}$$ 
What amount of inventory should the company report on the balance sheet?
A) $65,750
B) $63,250
C) $59,750
D) $57,250

Meyer Co Has the Following Information Available What Amount of Inventory Should the Company Report on the l