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PROBLEMS Problem 10-1 (IFRS) Childish Company provided the following information relation to an inventory: 700,000 180,000 40,000 60,000 Materials Storage cost of finished goods Delivery to customers Irrecoverable purchase taxes At what figure should the inventory be measured? a. 880,000 b. 760,000 c. 980,000 d. 940,000 Problem 10-2 (IFRS) Parrot Company provided the following inventory data: Materials Production labor cost Production overhead General administration cost Marketing cost 300,000 330,000 120,000 100,000 What is the value of the completed inventory? a. 630,000 b. 850,000 c. 750,000 d. 900,000 Problem 10-3 (AICPA Adapted) Virtue Company provided the following data for the current year Merchandise purchased for resale Freight in Freight out 4,000,000 100,000 50,000 20,000 200,000 returns Interest on inventory loan What is the inventoriable cost of the purchase? a. 4,280,000 b. 4,030,000 c. 4,080,000 d. 4,130,000 228