Percy Pilbeam is a book wholesaler. On each sale, commission of 4% is payable to the selling agent. The following information is available in respect of total inventories of three of his most popular titles at his financial year-end: Cost $ Selling price $ Henry VII – Shakespeare 2,280 2,900 Dissuasion - Jane Armstrong-Siddeley 4,080 4,000 Pilgrim's Painful Progress - John Bunion 1,280 1,300 What is the total value of these inventories in Percy's statement of financial position? A $7,368 В $7,400 C $7,560 D $7,640

Percy Pilbeam is a book wholesaler. On each sale, commission of 4% is payable to the selling agent. The following information is available in respect of total inventories of three of his most popular titles at his financial year-end: Cost $ Selling price $ Henry VII – Shakespeare 2,280 2,900 Dissuasion - Jane Armstrong-Siddeley 4,080 4,000 Pilgrim's Painful Progress - John Bunion 1,280 1,300 What is the total value of these inventories in Percy's statement of financial position? A $7,368 В $7,400 C $7,560 D $7,640

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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