O-LevelAccountingAccounting principles and policies7707/11 · Oct/Nov 2015 · Q151 Mark

A company had inventory which cost $100000. The inventory was damaged and would cost $10000 to repair after which it could be sold for $80000. At which value will the inventory be shown in the company's financial statements?

A$70000

B$80000

C$90000

D$100000

✓ Correct answer

A: $70000

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Topic: Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2015 Paper 1 Variant 1, question 15.

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A company had inventory which cost $100000. The inventory was damaged and would cost $10000 to repair after which it could be sold for $80000. At which value will the inventory be shown in the company's financial statements?

✓ Correct answer

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