Answer :
Answer:
C. $3,200
Explanation:
As per the normal provisions as contained in US GAAP the inventory of goods is generally valued at cost or NRV whichever is lower, since the cost is more then the Net Realizable Value, the inventory shall be valued at net realizable value.
Although the normal retail price is more than cost but since NRV is less they shall be valued at Net Realizable Value.
Thus, the correct answer is:
8 computers [tex]\times[/tex] $400 = $3,200
If Switzer, Inc. has 8 computers in which at the statement date, each computer has a net realizable value of $400. What value should Switzer, Inc., report for the computers at the end of the year is C : $3,200
Using this formula
Assets value=Number of computer×Net realizable value
Where:
Number of computer=8
Net realizable value=$400
Let plug in the formula
Assets value=8×$400
Assets value=$3,200
Inconclusion If Switzer, Inc. has 8 computers in which at the statement date, each computer has a net realizable value of $400. What value should Switzer, Inc., report for the computers at the end of the year is C : $3,200
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