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
- BBF30403: Millie started a small business selling organic vegetables 10 years ago. Her business has grown to a bigger scale: Corporate Finance Assignment, WOU, Malaysia
- Film, Television and Screen Studies Assignment, UON, Malaysia Identify the main aspects of mise-en-scene that are being used. Which are most important and why
- CDDS2103: Discuss the following topic(s) in the forum and submit proof of your participation in the online discussions: Introduction to Data Structure Course Work, OUM, Malaysia
- BCI1103: Demonstrate the principles and concept of computer programming: Computer programming Assignment, SU, Malaysia
- NWC4123: WebGoat is a deliberately insecure web application maintained by OWASP designed: Ethical Hacking Assignment, UPTM, Malaysia
- Enginnering Assignment, UMP, Malaysia Electrons or holes arc moved between two contacts by drift current in a Field Effect Transistor
- Human Resources Management Assignment, SUT, Malaysia How can an employer determine whether the recruiting and selection procedures being used to select employees
- Statistics for Engineering Technology Case Study, UniKL, Malaysia What is the correlation coefficient of the linear regression equation? What does this tell you? Explain
- D2FIN100: Introduction to Finance Assignment, HU, Malaysia Suppose the stock of Host Hotels & Resorts is currently trading for $20 per share. If Host does a 3:2 stock split
- Managing Information Assignment, IUMW, Malaysia Students are required to use their own company as an example to set up corporate entrepreneurship (CE)