Question
if I acquired inventories cost $20,000 and sold on 30 June 2017 for $27,000, and on 30 November 2017 obtained a further $8400 of inventory
if I acquired inventories cost $20,000 and sold on 30 June 2017 for $27,000, and on 30 November 2017 obtained a further $8400 of inventory on credit.
how should I account the further inventories(30 Nov) on income statement and balance sheet of 31 Dec 2017?
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Management Accounting
Authors: Late RC Sekhar, AV Rajagopalan
1st Edition
195683609, 978-0195683608
