Apollo Company provided the following inventory at year- end: Cost NRV P Skis P2,200,000 2,500,000 Boots |1,700,000 1,500,000 Ski equipment 700,000 800,000 Ski apparel 400,000 500,000 What amount should be reported as inventory at year-end? O P5,300,000 O P5,000,000 O P4,800,000 O P5,200,000

Apollo Company provided the following inventory at year- end: Cost NRV P Skis P2,200,000 2,500,000 Boots |1,700,000 1,500,000 Ski equipment 700,000 800,000 Ski apparel 400,000 500,000 What amount should be reported as inventory at year-end? O P5,300,000 O P5,000,000 O P4,800,000 O P5,200,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 6MCQ: Refer to the information for Morgan Inc. above. If Morgan uses a perpetual inventory system, what is...

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Question

Apollo Company provided the following inventory at year-
end:
Cost
NRV
Skis
P2,200,000
2,500,000
Boots
1,700,000 1,500,000
Ski
equipment 700,000
800,000
Ski
apparel
400,000
500,000
What amount should be reported as inventory at year-end?
O P5,300,000
O P5,000,000
P4,800,000
P5,200,000

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