What figure should appear in abby statement of financial

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Reference no: EM132728528

The closing inventory of abby company amounted to 305000 at dec 31 2020. This total includes two inventory lines about which the inventor taker is uncertain

Item 1 - 400 items which had cost 40 each and which were included at 16000. Theses items were found to have been dective at the balancevsheet date. Remedial work after the balamcesheet date cost 2500 and they were then sold for 38 each. Selling expense were 500

Item 2 - 150 items that hafmd cost 20 each but after tge balancesheet date, these were sold for 22 each with selling expenses of 600

Problem 1: What figure should appear in abby statement of financial position for inventory?

Reference no: EM132728528

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