S sells three products - Basic, Super and Luxury. The following information was available at the year end.
Basic
Super
Luxury
$ per unit
Original cost
6
9
18
Estimated selling price
12
15
Selling and distribution costs
1
4
5
units
Units of inventory
200
250
150
What is the value of inventory at the year end?
The correct answer is: $4,700
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