Determine the Sales for the year, Gross Profit P240,000.00, Ending Inventory P120,000.00, Goods available for sale P 200,000.00   P 460,000.00 P 320,000.00 P 400,000.00 P 300,000.00

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Q: 2021?

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.