had 12,000 units of product W32 in inventory included at cost of GHS6 per unit. During April and May 2015 units of W32 were being sold at a price of GHS5.40 each, with sales staff receiving a 15% commission on the sales price of the product. At what amount should inventory of product W32 be recognised in the financial statements of LN Itd as at 31 March 2015? A. GHS55,080 B. GHS72,000 OC. GHS64,800

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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had 12,000 units of
product W32 in inventory,
included at cost of GHS6
per unit. During April and
May 2015 units of W32
were being sold at a price
of GHS5.40 each, with
sales staff receiving a 15%
commission on the sales
price of the product. At
what amount should
inventory of product W32
be recognised in the
financial statements of LM
Itd as at 31 March 2015?
A. GHS55,080
B. GHS72,000
C. GHS64,800
Transcribed Image Text:had 12,000 units of product W32 in inventory, included at cost of GHS6 per unit. During April and May 2015 units of W32 were being sold at a price of GHS5.40 each, with sales staff receiving a 15% commission on the sales price of the product. At what amount should inventory of product W32 be recognised in the financial statements of LM Itd as at 31 March 2015? A. GHS55,080 B. GHS72,000 C. GHS64,800
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