A company has 2 lines of goods in its inventory at 31 March 2013. Details are as follows: Cost Net realizable value (A)€460 Cost Net realizable value (B) €960 (A)€500 (B)€800 What figure should appear as closing inventory in the financial statements drawn up to 31March 2013?

A company has 2 lines of goods in its inventory at 31 March 2013. Details are as follows: Cost Net realizable value (A)€460 Cost Net realizable value (B) €960 (A)€500 (B)€800 What figure should appear as closing inventory in the financial statements drawn up to 31March 2013?

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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Question

A company has 2 lines of goods in its
inventory at 31 March 2013. Details are as
follows:
Cost
Net realizable value (A)€460
Cost
Net realizable value (B) €960
(A)€500
(B)€800
What figure should appear as closing
inventory in the financial statements drawn up
to 31March 2013?

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