Question: Explain why it's answer if D ?? D. NRV Question 10. Mr. Jack has an inventory valued at $9988. It was found that an item
Explain why it's answer if D ??
D. NRV Question 10. Mr. Jack has an inventory valued at $9988. It was found that an item which is not included in the total value of inventory is damaged costing $5600 is hard to sell. It is expected to sell at $4500 after paying selling expenses of $560 and a commission of $200 to agent. NRV- 3740 Calculate the correct value of inventory for the inclusion in the statement of profit and loss. A $8,128 B. $15,588 C. $13500 D. )$13,728 Question 11. While preparing the draft accounts, Lambda reported his inventory at $47500. Later it was found that an item costing $4500 was omitted from the inventory valuation. What would be theStep by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
