O-LevelAccountingAccounting principles and policies7707/11 · Oct/Nov 2012 · Q221 Mark
On 30 September 2012 a business had an inventory of goods for re-sale which had cost $23 000. This included goods costing $1000 which were damaged and could only be sold for $700, after paying re-packing costs of $50. At what value should inventory be shown in the balance sheet at 30 September 2012?
A$22 000
B$22 250
C$22 650
D$22 700
✓ Correct answer
C: $22 650
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