$5,200
Explanation:
The amount which is to be reported in the balance sheet is computed as:
Amount = Inventory ร Current market value
where
As the presently the market price is $26. So, this amount will be considered while computing the inventory of the company.
Inventory is 200 units
Current market value is $26 per unit
Putting the values above:
Amount = 200 units ร $26 per unit
Amount = $5,200
Therefore, $5,200 amount will be recorded in the balance sheet for the inventory amount.
Empty
Explanation: