$1,000 items which had cost $18 each. These items were all sold in October
2012 for $15 each, with selling expenses of $800.
B) 5 items which had been in inventory since 1978 when they had been purchased
for $100 each, were sold in October 2012 for $1,000 each, net of selling
expenses.
What figure for inventory should appear in the company's statement of financial
position at 30 September 2012?
Kindly help me to solve this question.
Thank you.