Financial Statements (AQ2013) Practice Assessment 1 Task 1.6 (Inventories)
agngaw
Registered Posts: 1
Hello everyone,
I wonder if someone could help me, I am a bit stuck on the practice assessment task 1.6 in relation to calculating inventories.
The answer is 754 but I am not sure how to get to this answer?
Please help!
Thanks you
Agnes
0
Comments
-
consolidated inventories (prior to any adjustments = 758 ( Beacon 537 + Hill 221)
as given in the answer
from the further info: Beacon sold inventory (costing 40) to Hill for 60, and one fifth remain unsold, so (60 x 0.2) - (40 x 0.2) = 12 - 8 = 4 to be deducted from inventories as the intercompany adjustment
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