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Pls answer the questions with your detailed explanations, it's much appreciated! S sells three products - Basic, Super and Luxury. The following information was available
Pls answer the questions with your detailed explanations, it's much appreciated!
S sells three products - Basic, Super and Luxury. The following information was available at the year end. What is the value of inventory at the year end? $4,200$4,700$5,700$6,150 (2 marks) 12 An inventory record card shows the following details. What is the value of inventory at 28 February using the FIFO method? $2,450$2,700$2,950$3,000 IAS 2 Inventories defines the items that may be included in computing the cost of an inventory of finished goods manufactured by a business. Which one of the following lists consists only of items which may be included in the cost of inventories, according to IAS 2? Supervisor's wages, carriage inwards, carriage outwards, raw materials Raw materials, carriage inwards, costs of storage of finished goods, plant depreciation Plant depreciation, carriage inwards, raw materials, supervisor's wages Carriage outwards, raw materials, supervisor's wages, plant depreciation (2 marks)Step by Step Solution
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