At year-end, The Stone Cold Shop has a freezer on hand that has been used as a demonstration model. The freezer cost $1,560 and sells for $3,000 when new. In its present condition, the freezer will be sold for 1,520.
Related selling costs are an estimated $80. At what amount should the freezer be carried in inventory?
A) $1,500
B) $1,520
C) $1,440
D) $1,600
Correct Answer:
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