Sugar Company has the policy of valuing inventory at the lower of cost and net realizable value. Data pertainingto its three classes of sugar products follow: Splendid Regular White Muscovado Estimated selling price/unit P3,000 P2,000 P2,500 Estimated cost to sell/unit 600 400 500 Cost per unit 2,500 1,500 1,300 Number of units (50 kilo bags) 200 500 250 Question: How much inventory should be shown in Sugary Company's December 31 statement of financial position? A. P1,555,000 B. P2,225,000 C. P3,850,000 D. Not given
Sugar Company has the policy of valuing inventory at the lower of cost and net realizable value. Data pertainingto its three classes of sugar products follow:
Splendid Regular White Muscovado
Estimated selling price/unit P3,000 P2,000 P2,500
Estimated cost to sell/unit 600 400 500
Cost per unit 2,500 1,500 1,300
Number of units (50 kilo bags) 200 500 250
Question:
How much inventory should be shown in Sugary Company's December 31
A. P1,555,000
B. P2,225,000
C. P3,850,000
D. Not given
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