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What is the total amount to be included in closing inventory

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Reference no: EM132969630

The following information relates to inventory held at the year-end:

                                               Item A                   Item B

                                                     £                          £

Cost                                        65                  35

Selling price                               90                44

Cost of modification required to enable sale 16     n/a

Marketing and distribution costs          20            10

  • The modification costs required for item A arose because of changes requested by the customer and the customer has agreed to pay for half of the additional cost. Item B can be transferred to another department and incorporated into a product that will be sold for a significant profit.

Problem 1: What is the total amount to be included in closing inventory for these 2 items?

A. £88

B. £89

C. £96

D. £97

Reference no: EM132969630

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