matical skills around cost structures and appropriate equations to answer the following, inclusive of all associated workings to maximise marks: The inventory value for the financial statements of Zyon for the year ended 31st Oct 2022 was based on an inventory count on 3rd Nov 2022, which gave a total inventory value of $836,200.Between 31st Oct and 3rd Nov, the following transactions took place:Purchases of goods $8,600. Sales of goods (profit margin 35% on sales $14,000). Goods returned by Zyon to supplier $878. What adjusted figure should be included in the financial statements for inventories at 31st Oct 2022 to nearest
matical skills around cost structures and appropriate equations to answer the following, inclusive of all associated workings to maximise marks: The inventory value for the financial statements of Zyon for the year ended 31st Oct 2022 was based on an inventory count on 3rd Nov 2022, which gave a total inventory value of $836,200.Between 31st Oct and 3rd Nov, the following transactions took place:Purchases of goods $8,600. Sales of goods (profit margin 35% on sales $14,000). Goods returned by Zyon to supplier $878. What adjusted figure should be included in the financial statements for inventories at 31st Oct 2022 to nearest
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 33BE
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Apply mathematical skills around cost structures and appropriate equations to answer the following, inclusive of all associated workings to maximise marks: The inventory value for the financial statements of Zyon for the year ended 31st Oct 2022 was based on an inventory count on 3rd Nov 2022, which gave a total inventory value of $836,200.Between 31st Oct and 3rd Nov, the following transactions took place:Purchases of goods $8,600. Sales of goods (profit margin 35% on sales $14,000). Goods returned by Zyon to supplier $878. What adjusted figure should be included in the financial statements for inventories at 31st Oct 2022 to nearest hundred?
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