Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

At the year end, a business assessed its inventory at cost as $24650. This figure ignored the items below. The business applies a mark-up of 25%. What should the inventory have been valued at?

  • A$26350
  • B$26990
  • C$27590
  • D$27750

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