Hurricane, an entity, had 1500 units of product Y at 30 June 20X8. The product had been purchased at cost of $30 per unit and normally sells for $40 per unit. Recently, product Y started to deteriorate and can now be sold for only $38 per unit, provided that some rectification work is undertaken at a cost of $10 per unit. What was the value of inventory at 30 June 20X8?
Hurricane, an entity, had 1500 units of product Y at 30 June 20X8. The product had been purchased at cost of $30 per unit and normally sells for $40 per unit. Recently, product Y started to deteriorate and can now be sold for only $38 per unit, provided that some rectification work is undertaken at a cost of $10 per unit. What was the value of inventory at 30 June 20X8?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hurricane, an entity, had 1500 units of product Y at 30 June 20X8. The product had been purchased at cost of $30 per unit and normally sells for $40 per unit. Recently, product Y started to deteriorate and can now be sold for only $38 per unit, provided that some rectification work is undertaken at a cost of $10 per unit.
What was the value of inventory at 30 June 20X8?
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