FAR210: As at 31 December 2022, a physical stock count was carried out to determine: Financial Accounting 3 Assignment, UiTM, Malaysia
| Subject | FAR210 Financial Accounting 3 Assignment |
2. As at 31 December 2022, a physical stock count was carried out to determine the value of the inventories held by Tango Bhd. The unsold inventories were valued at RM881,750. Due to the flood in December 2022:
• 10% of the inventories were fully damaged and could not be sold.
• 30% only can be sold at RM250,000. The cleaning and repairs cost for these damaged inventories was estimated at RM10,000.
• 40% (undamaged inventories) could be sold at RM325,000. The selling cost of these remaining inventories was RM5,500.
• Remaining inventories could be sold at RM190,000
Required:
i. Define the term inventory in accordance with MFRS 102 inventories.
ii. Determine the value of closing inventory as at 31 December 2022 in accordance with MFRS102 Inventories. (Show all workings).
Get Solution of this Assessment. Hire Experts to solve this assignment for you Before Deadline.
Get Help By Expert
"Experience academic excellence with FAR210 Financial Accounting 3 Assignment! Our services as the best assignment helper in Malaysia extend to providing specialized support in Management Assignment Help. Malaysian students, seize the opportunity to enhance your understanding and performance by paying our experts for tailored guidance. With our comprehensive assistance, navigate the intricacies of financial accounting and management studies confidently, setting a new standard for success in your academic endeavors."
Recent Solved Questions
- Property Management System Assignment, APU, Malaysia Identify a business domain for Condominium Property Management. Construct a software solution using
- Nursing Assignment, IMC, Malaysia Diabetes mellitus is a growing public health problem affecting people worldwide, with a rapidly elevating prevalence
- LLB102A: LAW OF CONTRACT Assignment, HU, Malaysia The High Court in Sri Kajang Rock Products Sdn Bhd v Mayban Finance Bhd [1992] 1 CLJ 204 stated at p 206
- SKMM2413: Thermodynamics Assignment, UMT, Malaysia Choose a value for the polytropic exponent between 1.2-1.6. Using Microsoft Excel, construct the process
- HRM581: Malaysian Employment Law Assignment, UiTM, Malaysia Mandy is a 20-year-old Malaysian employed as an Administrative Clerk at AMD Precision Sdn Bhd in Melaka
- Fundamental of Statistics Assignment, APU, Malaysia Suppose that an accounting firm does a study to determine the time needed to complete one person’s tax forms
- MQB7006: Principles of Biostatistics Assignment, UM, Malaysia Describe your statistical analysis plan., data cleaning, and data analysis. Provide cross-tabulation between sociodemographic
- FA113: Financial Accounting 1 Assignment, RCC, Malaysia The following is the list of transactions for the month of January 2020 for Comfort Furniture a small furniture retailer
- Physicochemical Characteristics of Melastoma Malabathricum Thesis, UOM, Malaysia Melastoma malabathricum or known as the duduk tree is a type of plant that comes from the Melastomaceae family
- BMG323: Based on the distribution, compute (by formula) the average and standard deviation for: Business analytics Assignment, WOU, Malaysia
