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Additional information relating to the units in inventory

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Reference no: EM133253567

Massy Distribution Center (MDC) had 500 boxes of IGA Cornflakes at 30 September 2022 in inventory. The product had been purchased at list price of $18 per box and normally sells for $24 per box. 

Additional information relating to the units in inventory: VAT - 10%; wharehousing cost - $0.55 per unit; purchase discount - $0.40 per unit; carriage inwards - $0.60 per unit. 

Recently, due to poor handling and storage, several boxes appeared less than presentable however the contents were not compromised, and MDC can still sell this item at $24 per unit, provided that some rectification/re-packaging work is undertaken at a cost of $3 per unit. 

Answer the following: 

  • At what amount would this IGA Cornflakes be required to be stated on 30 September 2022? Provide detailed analysis to support your answer. 

Reference no: EM133253567

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