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The inventory value for the financial statements of Zyon for the year ended 31st Oct 2022 was based on an inventory count on 3rd Nov
The inventory value for the financial statements of Zyon for the year ended 31st Oct 2022 was based on an inventory count on 3rd Nov 2022, which gave a total inventory value of $836,200. Between 31st Oct and 3rd Nov, the following transactions took place: Purchases of goods $8,600 Sales of goods (profit margin 35% on sales $14,000) Goods returned by Zyon to supplier $878 What adjusted figure should be included in the financial statements for inventories at 31st Oct 2022 to nearest hundred?
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