Answered You can hire a professional tutor to get the answer.
Khalid purchased goods with an invoice value of RM150,000 for resale purposes. The company incurs RM10,00 to transport these goods to the warehouse.
Khalid purchased goods with an invoice value of RM150,000 for resale purposes.
The company incurs RM10,00 to transport these goods to the warehouse. The company
was entitled to a 10% discount because they purchased in bulk.
Besides that, as Khalid pays to his suppliers early they were further entitled to 5% discount for early payment.
During year end, the management noticed that the inventory were slow moving
and they were unable to sell it, thus the management decided to make a little modification to the inventory so as
improve the attractiveness of the inventory.
A further RM12,000 will be spent on the inventory after which they will be able
to sell the inventory for an estimated value of RM153,000.
Required:
Determine the value the inventory is to be carried.
