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

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

Section: Chapter Questions

Problem 1Q

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