You are given the following data in relation to two items held in inventory.   Purchase price Costs incurred to date Estimated selling price Selling costs Item A 400 50 425 60 Item B 100 25 200 50   500 75 625 110   What is the aggregate amount at which inventories of these items should be stated in the statement of financial position? Select one: a. 425 b. 515 c. 600 d. 490 e. 575

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A:

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Q: Need answer

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Q: You are given the following data in relation to two items held in inventory.

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Q: item-by-item basis

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.