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Question 1 The following information relates to the inventory of Amigo Bhd as at 31 December 2019. Raw materials - 300 kg RM Cost per
Question 1 The following information relates to the inventory of Amigo Bhd as at 31 December 2019. Raw materials - 300 kg RM Cost per kg 65 Current cost per kg 72 Work in progress - 150 units Cost per unit: Materials Labour Production overhead 150 195 200 Finished goods (good condition) 400 units Cost per unit: Materials 450 Labour 450 Production overhead 300 Finished goods (damaged) 10 units Rectification costs per unit 800 Selling price per unit of completed finished goods 2,000 (including the damaged finished goods when rectified) Selling and distribution expenses per unit 300 Required: Based on MFRS102 Inventories, compute the carrying amounts of the inventories to be included in the Statement of Financial Position of Amigo Bhd as at 31 December 2019. [10 marks]
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