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Cost of closing inventories

TThae4y ago
A manufacturing business calculated the cost of its closing inventory as follows: DM cost 200000 DL cost 180000 Share of storage cost for finished goods 20000 Share of factory O/H 60000 Share of selling costs 85000 545000 What figure should be used as the cost of closing inventories?
John MoffatJohn MoffatTutor4y ago#1
It is valued at all costs getting the goods ready for sale (which does not include costs associated with selling). This is all explained in my free lectures.
TThae4y ago#2
So the answer is $440000?
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