Liam & Co. imported raw materials from abroad worth £ 100,000. They paid £ 8,000 as import duties. They paid £ 15,000 for transportation of the materials from abroad and another £ 2,000 as port handling charges for loading the materials. Marketing expenses were £ 1,000 and the general administrative overheads amounted to £ 2,000. What will be the value of inventories as per IAS 2? a. 128,000 b. 115,000 c. 125,000 d.

Liam & Co. imported raw materials from abroad worth £ 100,000. They paid £ 8,000 as import duties. They paid £ 15,000 for transportation of the materials from abroad and another £ 2,000 as port handling charges for loading the materials. Marketing expenses were £ 1,000 and the general administrative overheads amounted to £ 2,000. What will be the value of inventories as per IAS 2? a. 128,000 b. 115,000 c. 125,000 d.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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