Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The management of FW Trading Limited provides the following information of inventory for the year ended 30 November 2019. Estimated unit selling Unit Estimated unit

image text in transcribed
The management of FW Trading Limited provides the following information of inventory for the year ended 30 November 2019. Estimated unit selling Unit Estimated unit Product Units on hand selling costs price cost 550 280 260 10 A. 840 320 300 28 620 400 420 18 Additional information: 300 units of Product A were held to satisfy a firm sales contract for selling 300 units at $350 per unit (with estimated unit selling cost of $28) to Boat Limited. Required: Determine the carrying amount of ending inventory of B, A, P individually and the total amount of inventory at the year ended date, and the amount of inventory write-down for the current period. Assume FW Trading Limited adopts the weighted average cost method

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Inventory

Authors: Steven M. Bragg

2nd Edition

1938910648, 9781938910647

More Books

Students also viewed these Accounting questions