Best Deals,Inc.has 10 units in ending merchandise inventory on December 31.The units were purchased in November for $160 each.The price lists from suppliers indicate the current replacement cost of the item to be $162 each.What would be the amount reported as Merchandise Inventory on the balance sheet?
A) $1,600
B) $3,220
C) $322
D) $1,620
Correct Answer:
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