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Calculate the gain/loss of monetary items

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Reference no: EM132156256

Question - Current Cost Accounting 1/1/15 31/12/15

Accounts Payable $160,000 $140,000

Accounts Receivable $200,000 $220,000

Bank Overdraft $70,000 $80,000

Inventory $180,000 $190,000

Tax Payable $30,000 $20,000

General Price Index $100. $105

Inventory Price Index $100 $102

a) Calculate the gain/loss of monetary items for 2015?

Reference no: EM132156256

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