Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Concept explainers

Inventory Valuation
Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in…
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Question

Sylu had sales of £150,000, which made a gross profit of £65,750. Purchases amounted to £175,000 and opening inventory was £5,000. The value of closing inventory was?

 

Choose one from the following:

  A.

320,000.00
  B.

35,750.00
  C.

95,750.00
  D.

240,750.00

 

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