The accountant for a company determines that the 100 units of inventory on hand at the end of the year should be recorded at their cost of $10 each using Last-in, First-out. Current replacement cost is $8.00. What amount would be reported as inventory on the balance sheet?

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The Answer of The accountant for a company determines that the 100 units of inventory on hand at the end of the year should be recorded at their cost of $10 each using Last-in, First-out. Current replacement cost is $8.00. What amount would be reported as inventory on the balance sheet?

The Accountant for a Company Determines That the 100 Units