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Hi John.
Hope you are well. I had a question about inventory from the 2019-2020 BPP practice exam book. For question 6.3 the solution for NRV is $22 for part 2 of the question. Selling price was $28 and cost per item was $5. Could you please provide some clarity on this as I was getting $23 as NRV (28-5).
Thanks.
It is because in addition to the remedial work costing $5, there will be selling costs of $800/800 = $1 per skirt.
So the NRV is 28 – 5 – 1 = $22 per skirt.
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