On 31/12/2013, the cost of inventory was 54000, and the Fair value (estimated selling price) was 57000, and cost to make to sell was 5000. On 31/12/2013 the company recognized: Select one: a. 2000 write-down of inventory b. 3000 recovery of write-down of inventory c. 3000 write-down of inventory d. 8000 recovery of write-down of inventory e. 8000 write-down of inventory
On 31/12/2013, the cost of inventory was 54000, and the Fair value (estimated selling price) was 57000, and cost to make to sell was 5000. On 31/12/2013 the company recognized: Select one: a. 2000 write-down of inventory b. 3000 recovery of write-down of inventory c. 3000 write-down of inventory d. 8000 recovery of write-down of inventory e. 8000 write-down of inventory
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 67P
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On 31/12/2013, the cost of inventory was 54000, and the Fair value (estimated selling price) was 57000, and cost to make to sell was 5000. On 31/12/2013 the company recognized:
Select one:
a. 2000 write-down of inventory
b. 3000 recovery of write-down of inventory
c. 3000 write-down of inventory
d. 8000 recovery of write-down of inventory
e. 8000 write-down of inventory
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