At 31 March 20X9 Tentacle Ltd had 12,000 units of product W32 in inventory, included at cost of £6 pe unit. During April and May 20X9 units of W32 were being sold at a price of £5.40 each, with sales staff receiving a 15% commission on the sales price of the product. At what amount should inventory of product W32 be recognised in the financial statements of Tentacle Ltd as at 31 March 20X9? A .£54, 000 B. £55,000 C. £54, 080 D. £55,080

At 31 March 20X9 Tentacle Ltd had 12,000 units of product W32 in inventory, included at cost of £6 pe unit. During April and May 20X9 units of W32 were being sold at a price of £5.40 each, with sales staff receiving a 15% commission on the sales price of the product. At what amount should inventory of product W32 be recognised in the financial statements of Tentacle Ltd as at 31 March 20X9? A .£54, 000 B. £55,000 C. £54, 080 D. £55,080

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Description: At 31 March 20X9 Tentacle Ltd had 12,000 units of product W32 in inventory, included at cost of £6 perunit. During April and May 20X9 units of W32 were being sold at a price of £5.40 each, with sales staffreceiving a 15% commission on the sales pric

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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