The Bridal Gift Shop, Inc. has 14 units in ending merchandise inventory on December 31. The units were purchased in November for $165 each. The price lists from suppliers indicate the current replacement cost of the item to be $171 each. What would be the amount reported as Merchandise Inventory on the balance sheet?
A) $2,310
B) $4,704
C) $336
D) $2,394
Correct Answer:
Verified
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