Chapter 9, Problem 5UJ

To determine

Accounting:

(a)

To determine the amount to be reported as inventory in the balance sheet as on March 31.

To determine

(b)

To determine the amount to be reported as inventory in the balance sheet as on March 31.

To determine

Analysis:

To determine the best method out of the above two methods.

To determine

Principles:

(a)

To describe: To describe the reporting of inventory remaining in the financial statements.

To determine

(b)

To describe: To describe the conceptual trade-offs.