Mullac Limited sells four products J, K, L and M. At 31 August 2021 the following...

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Mullac Limited sells four products J, K, L and M. At 31 August 2021 the following items are held: J K L M 1 2 Cost RM 4,759 2,172 3 4 5 3,223 6,747 6 7 8 9 10 5% sales commission is paid to the company's agents on all sales. Required: Compute the value for inventory should be shown in the company's financial statements at 31 August 2021? c) Sweet & Gabby Ltd. has 10 items of unsold inventory at the year end. These are listed below giving the cost and NRV of each item. Selling Price RM Cost RM 200 700 720 240 72 47 5,200 2.300 250 162 42 122 3,300 7,100 NRV RM 177 2000 120 220 70 55 200 177 50 241 Required: Compute the value of inventory that will be disclosed in the statement of financial position. Mullac Limited sells four products J, K, L and M. At 31 August 2021 the following items are held: J K L M 1 2 Cost RM 4,759 2,172 3 4 5 3,223 6,747 6 7 8 9 10 5% sales commission is paid to the company's agents on all sales. Required: Compute the value for inventory should be shown in the company's financial statements at 31 August 2021? c) Sweet & Gabby Ltd. has 10 items of unsold inventory at the year end. These are listed below giving the cost and NRV of each item. Selling Price RM Cost RM 200 700 720 240 72 47 5,200 2.300 250 162 42 122 3,300 7,100 NRV RM 177 2000 120 220 70 55 200 177 50 241 Required: Compute the value of inventory that will be disclosed in the statement of financial position.

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To compute the value of inventory for both Mullac Limited and Sweet Gabby Ltd we need to foll... View the full answer