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Sunland Cosmetics Inc. had a number of transactions during the year relating to the purchase of various inventory items as noted below. For each of
Sunland Cosmetics Inc. had a number of transactions during the year relating to the purchase of various inventory items as noted below. For each of the below independent transactions determine what amount should be included in inventory. Lipstick products counted in the physical inventory amount to $21,000 which include $1,400 of duty charges for importing the goods and $2,900 of recoverable taxes (i.e. HST). (If an answer is zero, please enter 0. Do not leave any fields blank.) $ Inventory eTextbook and Media Question Part Score --/1 Makeup kits held on consignment by a retailer with a cost of $14,000 (inclusive of $1,100 of commissions to the retailer). (If an answer is zero, please enter O. Do not leave any fields blank.) $ Inventory e Textbook and Media Question Part Score --/1 Costs of $5,300 to store makeup products in Sunland Cosmetic's warehouse. (If an answer is zero, please enter 0. Do not leave any fields blank.) $ Inventory e Textbook and Media Question Part Score --/1
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