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Point 1: On 30 September 2019, Razor Ltd's closing inventory was counted and valued at its cost of $1m. Some items of the inventory which had a cost of N$210 000 had been damaged in a flood (on 15 September 2019) and are not expected to achieve their normal selling price which is calculated to achieve a gross profit margin of 30%
Point 2: The sale of these goods will be handled by an agent who sells them at 80% of the normal selling price and charges Razor a commission of 25%.
Question 1: At what value will the closing inventory of Razor be reported in its statement of financial position at 30 September 2019
During 2013, Hungryman had $18,500,000 of credit sales, collected $17,945,000 of accounts receivable, and wrote off $60,000 of accounts receivable as uncollectible. At year end, Hungryman performs an aging of its accounts receivable balance and estim..
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What Projects can restore the rights and dignity of people and societies who may be, or are forced into motion due to social injustices, politics, economic pressures, climate change and war.
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