Diesel fuel in inventory at 1 November 20X7 was $12,500, and there were invoices awaited for $1,700. During the year to 31 October 20X8, diesel fuel bills of $85,400 were paid, and a delivery worth $1,300 had yet to be invoiced. At 31 October 20X8, the inventory of diesel fuel was valued at $9,800. What is the value of diesel fuel to be charged to the statement of profit or loss and other comprehensive income for the year to 31 October 20X8? A $87,700 B $89,400 C $88,500 D $91,100
Diesel fuel in inventory at 1 November 20X7 was $12,500, and there were invoices awaited for $1,700. During the year to 31 October 20X8, diesel fuel bills of $85,400 were paid, and a delivery worth $1,300 had yet to be invoiced. At 31 October 20X8, the inventory of diesel fuel was valued at $9,800. What is the value of diesel fuel to be charged to the statement of profit or loss and other comprehensive income for the year to 31 October 20X8? A $87,700 B $89,400 C $88,500 D $91,100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Diesel fuel in inventory at 1 November 20X7 was $12,500, and there were invoices awaited for
$1,700. During the year to 31 October 20X8, diesel fuel bills of $85,400 were paid, and a delivery
worth $1,300 had yet to be invoiced. At 31 October 20X8, the inventory of diesel fuel was valued at
$9,800. What is the value of diesel fuel to be charged to the statement of profit or loss and other
comprehensive income for the year to 31 October 20X8?
A $87,700
B $89,400
C $88,500
D $91,100
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