A-LevelAccountingPreparation of financial statements9706/12 · Feb/Mar 2019 · Q101 Mark
At the year-end, a business has some damaged goods in inventory. The following information is available. 1 The goods were purchased for $8500. 2 If the goods are repaired, they can be sold for $10400. The business will have to pay $2000 repairing cost and pay $300 to a salesman. 3 The same quantity of damaged goods can be purchased from the supplier for $8200. What is the value of the damaged goods at the year-end?
A$8100
B$8200
C$8400
D$8500
✓ Correct answer
A: $8100
Practise more questions on this topic
Oracle Prep sorts past-paper questions by topic, so you can drill Preparation of financial statements and see which topics are most likely to come up next.
Sign up free →