[subodhprasain]

Mr. Moffat,
One of the multitask questions in Kaplan’s workbook has made me confused. The question goes like this:

Inventories as the close of the business on 31 December 20X9 were valued at cost of $19,781. Included in this amount was an inventory line at a cost of $4000 that, due to change in legislation, is now illegal. Clerk(the entity) could rectify the items at a cost of $2500 and plans to do so. The items usually retail to customer at $6000.

Thank you!

[Author]

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