closing inventory
Amna
Registered Posts: 26 Regular contributor ⭐
HI is anyone helps me (AAT question)
no entry has been made for closing inventory it has been valued at the sale price of 19420 the sale price of good always higher than 25% of the cost of those goods
thanks
no entry has been made for closing inventory it has been valued at the sale price of 19420 the sale price of good always higher than 25% of the cost of those goods
thanks
0
Comments
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Hi Amna
This means that the sale price is 1.25 cost of sales. Inventory should be valued at cost so 19240/1.25 = £15,392AAT Level 4, MAAT
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