A-LevelAccountingInventory ValuationMay/June 2017Paper 1 Q111 Mark
Sam was unable to conduct a physical count of inventory at 31 December 2016. On 3 January 2017 inventory had been sold to Abdul for $11950. The cost price of this inventory had been $9560. On 4 January 2017 inventory had been returned by Sita. It had been sold for $2390. The cost price of this inventory was $1912. Sam valued his inventory at 5 January 2017 at cost, $59 750. What was the value of inventory at 31 December 2016?
A$50 190
B$52012
C$67 398
D$69310
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of inventory valuation within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
🔒
Unlock the Examiner's Answer
Sign up for free to reveal the correct answer, the official mark scheme breakdown, and the examiner trap analysis for this question.
Sign Up Free to Unlock →Join thousands of Cambridge students already using Oracle Prep