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Question 2. We have the inventories at the end of this year. The following table provide...

Question 2.

We have the inventories at the end of this year. The following table provide information about each product.

Product Cost   Replacement Cost Selling Price

101    $135 $130 $140

202 $150 $145 $160

303 $115 $117 $120

We expect to incur selling costs equal to 5 percent of the selling price on each of the products.

How much is the total amount of inventories at the end of this year?

  1. $390
  2. $392
  3. $395
  4. $397
  5. $400
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