Question

damaged, obsolete (out-of-date), and/or deteriorated goods that can be sold: multiple choice are never counted as inventory. are included in inventory at their full cost. are included in inventory at their net realizable value. should be disposed of immediately. are assigned a value of zero.

Answer 1

Damaged, obsolete (out-of-date), and/or deteriorated goods that can be sold C. are included in inventory at their net realizable value

What is a Damaged Good?

This refers to the type of product or goods that is either broken, cracked, scratched, and cannot be used because they have clear defects.

Hence, we can see that in the case of damaged, obsolete (out-of-date), and/or deteriorated goods, the thing that can happen to them is that they can also be included in inventory at their net realizable value.

This is because the damaged goods can still be sold when their current value is recalculated in lieu of the previous value when it was undamaged and then included in the inventory.

Option C is the answer.

With this in mind, it can be seen that the correct answer to the given question is given above as explained

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