company has been growing over the years and has expanded neighboring districts of Kampala.

Included in the inventory of TUL on 31 March, 2018 are goods that cost Shs 51.2 million. The prices of these goods on the open market fluctuate frequently established that the cost price of these goods on 31 March, 2018 was Shs 55.2million. a)Advise on the value at which TUL should record inventory in the financial statements for the year ended 31 March, 2018 given that TUL can sell the above inventory for Shs 62 million, and incur selling costs amounting to Shs 4 million.

Answer rating: 100% (QA)

Based on the information provided TUL should record the inventory in the financial statements for th... View the full answer