2s (b) On 30september 2014, Razor's elosing inventury was and valued at its cost of T, 1 mivion some item inventory which had cost T2s 210,000 Gad 6een demaged in a flood Con 15 siptember 2014) and are not expected to achieve theer normal seecing price which is calculated to achicue a gross profit mangin of 30%. The sale of these good will be handled by an agent who seels them at 80% of the normal selling price and changes Razer a commission of 25% Required At what value will the closing inventury of Razor be repoited in its statement of financial position as at 30 september 2014?
2s (b) On 30september 2014, Razor's elosing inventury was and valued at its cost of T, 1 mivion some item inventory which had cost T2s 210,000 Gad 6een demaged in a flood Con 15 siptember 2014) and are not expected to achieve theer normal seecing price which is calculated to achicue a gross profit mangin of 30%. The sale of these good will be handled by an agent who seels them at 80% of the normal selling price and changes Razer a commission of 25% Required At what value will the closing inventury of Razor be repoited in its statement of financial position as at 30 september 2014?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:tope
8
(6) On 30 september 2014, Razor's claring inventory was counted
and valved at its cast of [2s 1 million
some items
inventory which had cast
123 210,000 had been
demaged
in a flood Con 15 september 2014) and are
achieve their normal seccing price
not expected to
which is calculated to
achieve
The
sall of these good will
a gross profit margin
be handled by
sells them at 80% of the normal
changes
Razor a commission
of
26%
so
Page No.
Dete
80%.
of
who
am agent
Selling price and
Required
At what value will the closing inventury of
be reported in its statement.
30 september 2014?
af
Razor'
of financial position as
Transcribed Image Text:2s
(b) On 30september 2014, Razor's elosing inventury was and valued at its cost of T, 1
mivion some item inventory which had cost T2s 210,000 Gad 6een demaged in a flood Con
15 siptember 2014) and are not expected to achieve theer normal seecing price which is
calculated to achicue a gross profit mangin of 30% . The sale of these good will be handled
by an agent who seels them at 80% of the normal selling price and changes Razer a
commission of 25% Required At what value will the closing inventury of Razor be repoited in
its statement of financial position as at 30 september 2014?
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