The following relate to God's blessings enterprise for the year ended 31 December 2019. Production cost of goods completed is 1080,000 Sales is 1939,500 Inventory of finished goods at cost on 1st January 2019 is 255000 Inventory of finished goods at cost 31st December 2019 is 202500 Selling and distribution expenses 216,000 Administrative expenses 180000 Financial charges 48000 Goods are transferred to the warehouse at cost plus 33%. What is the value of opening inventory at market value?

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A:

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.