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What the value of these inventories are decreased

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Q1. If Stafford Ltd has interest in Joint operation and provided plant to SmartTool (joint operation). the values of inventories at joint operation include: Finished goods 10000, Transferred inventory 150000. Based on this, the cost of inventory of joint operation is:

a. 140000

b. 120000

c. 100000

d. 160000

Q2. If Stafford Ltd has a 50% of interest in Joint operation and provided plant to SmartTool (joint operation) with a carrying value of 2000,000 and fair value of 3,000,000, with an expected life of 10 years. If the value of inventories at joint operation were as follow: Work in process (WP) 70,000, Finished goods 70,000, and Transferred inventory 35,000. What the value of these inventories are decreased at the book of Stafford Ltd?

a. WP of 20,000, finished goods of 20,000, transferred inventory of 10,000

b. None of the given choices

c. WP of 20,000, finished goods of 10,000, transferred inventory of 20,000

d. WP of 10,000, finished goods of 20,000, transferred inventory of 20,000

Reference no: EM132992261

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