The company maintains its records of inventory on a perpetual basis using the last-in, first-out inventory costing method. Calculate the amount of ending Merchandise Inventory at December 31, 2019 using the lower-of-cost-or-market rule. (Round any intermediate calculations two decimal places, and your final answer to the nearest dollar.)
Smart Phones Company had the following balances and transactions during 2019.
A) $1,460
B) $1,992
C) $2,106
D) $2,052
B) $1,992
Explanation:
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