could please assist me with following question 1.The inventory value for the financial statements of x for the ended 31 may 2008 was based on an inventory count on 4 june,which gave a total inventory value of 836200.
Between 31 may and 4 june 2008,the following transactions took place
Purchases of goods 8600 sales of goods(profit margin 30% on sales) 14000 Goods returned by x to supplier 700 Question What adjusted figure should be included in the financial statement for inventory at 31 may 2008?