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What is total amount of inventory

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Reference no: EM132903361

Xylen entity purchased inventory for cash. The details thereof were as follows:

Invoice price (no VAT is charged on these goods) ?850,000

Rebate offered to the entity by the supplier 10,000

Problem 1: Assuming that the terms of the agreement made it clear that the rebate was a reduction to the invoice price of the inventory. What is the total amount of inventoriable cost?

a. ?860,000

b. ?840,000

c. ?850,000

d. ?10,000

Problem 2: Assuming that the terms of the agreement made it clear that the rebate was a refund of the entity's expected selling costs. What is the total amount of inventoriable cost?

a. ?860,000

b. ?840,000

c. ?850,000

d. ?10,000

Reference no: EM132903361

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