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What will be the final figure in balance sheet at year end

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Question - Inventory from trial balance 30/6/2017 was $1,950,000, comprised of:

Raw material - at cost                                                 $70,000

Work in progress - at cost                                          800,000

Finished goods - at cost                                              1,054,000

Finished goods - at net realisable value                   26,000

Finished goods are valued at the lower of cost and net realisable value on a weighted average basis.

What will be the final figure in Balance sheet at year end 30/6/2017 for inventory? And How?

Reference no: EM131601254

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