61 If the home office ships merchandise to the branch at an amount above the cost, at what amount should the investment in branch be debited?   Group of answer choices At final selling price At billed price less cost At billed price At cost

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.