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margin and marks

Forums › ACCA Forums › General ACCA Forums › margin and marks

  • This topic has 0 replies, 1 voice, and was last updated 12 years ago by molatlhegi.
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  • November 2, 2012 at 1:16 pm #54934
    molatlhegi
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    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?

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