Rainbow Company sells toys and operates multiple retail stores across Queensland. The management accountant is currently examining the inventory cost data for the company's South Brisbane store. The following data provides various cost items and amounts incurred in the South Brisbane store during the year 2023. The cost of obtaining purchase approvals $800 The incoming freight charges of inventories $2,300 The cost of storage & handling (i.e., rent and insurance) $5,300 The cost that results from theft of inventory $1,100 The cost of goods acquired $25,600 The opportunity cost of investment tied up in inventory $1,600 The cost of running out of inventory $3,000 What is total carrying cost for the South Brisbane store during the year 2023? a. $5,100 b. $4,100 C. $6,200 d. $6,900

Rainbow Company sells toys and operates multiple retail stores across Queensland. The management accountant is currently examining the inventory cost data for the company's South Brisbane store. The following data provides various cost items and amounts incurred in the South Brisbane store during the year 2023. The cost of obtaining purchase approvals $800 The incoming freight charges of inventories $2,300 The cost of storage & handling (i.e., rent and insurance) $5,300 The cost that results from theft of inventory $1,100 The cost of goods acquired $25,600 The opportunity cost of investment tied up in inventory $1,600 The cost of running out of inventory $3,000 What is total carrying cost for the South Brisbane store during the year 2023? a. $5,100 b. $4,100 C. $6,200 d. $6,900

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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