On December 1, 2018, Karr Company purchased inventory for $54,000. On December 31, 2018, the replacement cost of that inventory is $57,000. At what amount would inventory be measured on the December 31, 2018 balance sheet?

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The Answer of On December 1, 2018, Karr Company purchased inventory for $54,000. On December 31, 2018, the replacement cost of that inventory is $57,000. At what amount would inventory be measured on the December 31, 2018 balance sheet?

On December 1, 2018, Karr Company Purchased Inventory for $54,000