Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

Sam could not carry out a physical count of inventory on 31 December 2024. On 3 January 2025, inventory was sold to Abdul for $11950$. The cost price of this inventory was $9560$. On 4 January 2025, inventory had been returned by Sita. It had been sold on 21 December 2024 for $2390$. The cost price of this inventory was $1912$. Sam assessed his inventory on 5 January 2025 at a cost of $59750$. What was the inventory value on 31 December 2024?

  • A$50190$
  • B$52012$
  • C$67398$
  • D$69310$

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