At December 31, 2007, the following information was available from Dole Co.'s accounting records: Sales for the year totaled $1,050,000.Markdowns amounted to $10,000.Under the lower-of-cost-or-market method, Dole's inventory at December 31, 2007 was
A)$294,000.
B)$245,000.
C)$252,000.
D)$238,000.

Question

At December 31, 2007, the following information was available from Dole Co.'s accounting records: Sales for the year totaled $1,050,000.Markdowns amounted to $10,000.Under the lower-of-cost-or-market method, Dole's inventory at December 31, 2007 was
A)$294,000. 
B)$245,000. 
C)$252,000. 
D)$238,000.

Quizplus · Accepted Answer

The Answer of At December 31, 2007, the following information was available from Dole Co.'s accounting records: Sales for the year totaled $1,050,000.Markdowns amounted to $10,000.Under the lower-of-cost-or-market method, Dole's inventory at December 31, 2007 was
A)$294,000. 
B)$245,000. 
C)$252,000. 
D)$238,000.

At December 31, 2007, the Following Information Was Available from Dole