A-LevelAccountingInventory ValuationFeb/Mar 2019Paper 1 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
The correct answer is A. This question tests the candidate's understanding of inventory valuation within the Accountingsyllabus. The examiner's mark scheme requires...
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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...
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