1- Hani has an inventory at 1/1/2020 of €60,000 and purchases during 2020 of €280,000, both at cost Sales at selling price amount to €200,000. Compute the estimated inventory at 31/12/2020, assuming that the gross profit is 25% of sales v a-290000 b-190000 C-230000 d-150000 2- Which of the following is a product cost as it relates to inventory? v a. Selling costs. b. Interest costs. C. Raw materials. d. Abnormal spoilage.

1- Hani has an inventory at 1/1/2020 of €60,000 and purchases during 2020 of €280,000, both at cost Sales at selling price amount to €200,000. Compute the estimated inventory at 31/12/2020, assuming that the gross profit is 25% of sales v a-290000 b-190000 C-230000 d-150000 2- Which of the following is a product cost as it relates to inventory? v a. Selling costs. b. Interest costs. C. Raw materials. d. Abnormal spoilage.

Name: Question 4Answer the following 2 questions:1- Hani has an inventory a
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Description: Question 4Answer the following 2 questions:1- Hani has an inventory at 1/1/2020 of C60,000 and purchases during 2020 of €280,000, both at cost Sales at selling price amount to €200,000. Compute the estimated inventory at 31/12/2020 , assumingthat th

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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