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Meyer Co Has the Following Information Available What Amount of Inventory Should the Company Report on the l

Question 60

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Meyer Co. has the following information available:  Cost of inventory $56,000 Freight-in 6,000 Freight-out 2,500 Packaging costs 550 Handling costs 700\begin{array} { | l | r | } \hline \text { Cost of inventory } & \$ 56,000 \\\hline \text { Freight-in } & 6,000 \\\hline \text { Freight-out } & 2,500 \\\hline \text { Packaging costs } & 550 \\\hline \text { Handling costs } & 700 \\\hline\end{array}
What amount of inventory should the company report on the balance sheet?


A) $65,750
B) $63,250
C) $59,750
D) $57,250

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