28\. Q59

Norton Company purchased 1,000 widgets and has 200 widgets in its ending inventory at a cost of $91 each and a current market price of $80 each.

The ending inventory as per IAS2 rule is:

a\ $80,000.

b\ $18,200.

c\ $91,000

d\ .$16,000.

29\ Cost of Goods Purchased is calculated as:

a\ Net Purchases Carriage Inwards

b\ Net Purchases + Carriage Inwards + Carriage Outwards

c\ Net Sales Cost of Goods Sold

d\ Purchases - Purchase Returns + Carriage Inwards

Choose the correct answer, give me the question number and the answer code.

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