- 4 Marks
FA – L1 – Q44 – Inventory Valuation
Calculate inventory value for Bles at 31 Dec 20X9 using lower of cost or NRV.
Question
t 31 December 20X9 Bles had the following items of inventory:
| Product | Quantity | Total cost GH₵ | Realisable value GH₵ | Estimated cost of realisation GH₵ |
|---|---|---|---|---|
| ABC | 20 | 80 | 200 | 20 |
| DEF | 10 | 150 | 120 | 10 |
| GHI | 6 | 6 | 7 | 2 |
| JKL | 12 | 36 | 12 | 1 |
Required
What amount of inventory should be presented in the statement of financial position of Bles at 31 December 20X9.
Find Related Questions by Tags, levels, etc.
- Tags: Cost, Financial Position, Inventory, Net Realisable Value, Valuation
- Level: Level 1
- Topic: Inventory
Report an error
