Total purchase price is 57 361, mark up cost 20%, opening inventory 27 519 and closing...
Total purchase price is 57 361, mark up cost 20%, opening inventory 27 519 and closing inventory 17482. What is the amount that has to be disclosed for in the statement of financial position at the end of financial year?
Homework Answers
Statement of Financial Position means Balance Sheet. At the end of the year Closing Inventory is disclosed in the balance sheet under Current Assets. From the given information Closing Inventory is 17482 and therefore it should be disclosed in the Statement of Financial Position.
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Total purchase price is 57 361, mark up cost 20%, opening
inventory 27 519 and closing...
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