O-LevelAccountingAccounting procedures7707/11 · Oct/Nov 2017 · Q301 Mark

At the end of the financial year Omar's inventory was 100 units of which 10 units were damaged and could not be sold. The selling price per unit is $5 and the cost price per unit is $3.50. Which value should Omar place on his inventory?

A$315

B$350

C$450

D$500

✓ Correct answer

A: $315

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2017 Paper 1 Variant 1, question 30.

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