The Bridal Gift Shop, Inc. has 11 units in ending merchandise inventory on December 31. The units were purchased in November for $150 each. The price lists from suppliers indicate the current replacement cost of the item to be $152 each. What would be the amount reported as Merchandise Inventory on the balance sheet? A $1,650
B. $3.322
C. $1,672
D. $302

A $1,650

Explanation:

The computation of amount reported as Merchandise Inventory on the balance sheet is shown below:-

Merchandise inventory = Ending merchandise inventory × Units purchased

= 11 × $150

= $1,650

Therefore for computing the Merchandise Inventory we simply applied the above formula and have not considered the replacement cost as it is not relevant.

answer; (cash) is the best out of the above; good luck

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o