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Business, 07.11.2019 01:31 whitwelllife

Based on a physical inventory taken on december 31, 20x1, chewy co. determined its chocolate inventory on a fifo basis at $26,000 with a replacement cost of $20,000. chewy estimated that, after further processing costs of $12,000, the chocolate could be sold as finished candy bars for $40,000. chewy's normal profit margin is 10% of sales. what amount should chewy report as chocolate inventory on its december 31, 20x1, balance sheet? a. $28,000b. $26,000c. $24,000d. $20,000

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