O-LevelAccountingAccounting principles and policies7707/13 · Oct/Nov 2022 · Q181 Mark

A trader provided the following information about his inventory at the end of his financial year. total number of units 500 cost price of each unit $4 net realisable value of each unit $6 80 units were damaged and could be sold for $3 per unit. What was the value of the closing inventory?

A$1920

B$2000

C$2760

D$2840

✓ Correct answer

A: $1920

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Topic: Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2022 Paper 1 Variant 3, question 18.

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