LM ltd has the following products in inventory at the year end. Product             Quantity         Cost                Selling price    Selling cost X                      1,000              GHS40             GHS55             GHS8 Y                     2,500              GHS15             GHS25             GHS4 Z                      800                 GHS23             GHS27            GHS5 At what amount should total inventory be stated in the statement of financial position?

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A: Ending units=Beginning units+Purchases -Units sold=260+340+440+190-800=430 units

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Q: In preparing financial statements for the year ended 31 March 2015, the inventory count was carried…

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Q: Niles Co. has the following data related to an item of inventory: Inventory, March 1 Purchase, March…

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Q: Sheffield inventory turnover ratio in 2022 was

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Q: The inventory records for Radford Company reflected the following Beginning inventory on May 1 First…

A: Gross Margin = Sales - Cost of goods sold

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Q: The ABC Ltd. uses the periodic inventory system. Answer the given questions by having the below…

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Q: ABC Corporation reports the following information for 2020. Based on these figures, what is ABC's…

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A: Formula:

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Q: RJ Corporation has provided the following information about one of its inventory items: Number of…

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Q: Bramble Corp. has the following data related to an item of inventory: Inventory, March 1 440 units @…

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A:

Q: The following information was available from the inventory records of Sheffield Corp. for January:…

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Q: Data on the physical inventory of Katus Products Co. as of December 31 follow: Market Value per Unit…

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Q: The following information was available for Sheffield Corp. at December 31, 2022: beginning…

A: Compute the average inventory.