Question
2. The year end stocks for the two main groups of stock held by Salman Stores are found to be: Cost Net realizable value $
2. The year end stocks for the two main groups of stock held by Salman Stores are found to be:
Cost Net realizable value
$ $
Crockery 5,000 4,600
Electronics 4,000 4,200
Cutlery 3,500 3.800
Total 12,500 12,600
Calculate the value of closing stock (inventory) to be reported in the Statement of Financial Position.
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Accounting And Finance An Introduction
Authors: Eddie McLaney, Peter Atrill
10th Edition
1292312262, 978-1292312262
