Solution-Calculate the total value of products

Calculate the total value of products

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Reference no: EM13557928

(a) Villandry's inventory includes three items for which the following details are available.

	Supplier's	Net realisable
	list price	value
	$	$
Product A	3,600	5,100
Product B	2,900	2,800
Product C	4,200	4,100

The company receives a 2½% trade discount from its suppliers and it also takes advantage of a 2% discount for prompt payment.

Required

Calculate the total value of products A, B and C which should be shown in inventory in the statement of financial position.

Explain the difference that changing from a weighted average to FIFO method of inventory valuation is likely to have on profit or loss.

Reference no: EM13557928

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Calculate the total value of products

Reference no: EM13557928

Reference no: EM13557928

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