FAR210: As at 31 December 2022, a physical stock count was carried out to determine: Financial Accounting 3 Assignment, UiTM, Malaysia
| Subject | FAR210 Financial Accounting 3 Assignment |
2. As at 31 December 2022, a physical stock count was carried out to determine the value of the inventories held by Tango Bhd. The unsold inventories were valued at RM881,750. Due to the flood in December 2022:
• 10% of the inventories were fully damaged and could not be sold.
• 30% only can be sold at RM250,000. The cleaning and repairs cost for these damaged inventories was estimated at RM10,000.
• 40% (undamaged inventories) could be sold at RM325,000. The selling cost of these remaining inventories was RM5,500.
• Remaining inventories could be sold at RM190,000
Required:
i. Define the term inventory in accordance with MFRS 102 inventories.
ii. Determine the value of closing inventory as at 31 December 2022 in accordance with MFRS102 Inventories. (Show all workings).
Get Solution of this Assessment. Hire Experts to solve this assignment for you Before Deadline.
Get Help By Expert
"Experience academic excellence with FAR210 Financial Accounting 3 Assignment! Our services as the best assignment helper in Malaysia extend to providing specialized support in Management Assignment Help. Malaysian students, seize the opportunity to enhance your understanding and performance by paying our experts for tailored guidance. With our comprehensive assistance, navigate the intricacies of financial accounting and management studies confidently, setting a new standard for success in your academic endeavors."
Recent Solved Questions
- Unit 2 International Marketing Management, Assignment, Malaysia
- TCP3151: Integrative Programming and Technologies Assignment, MMU, Malaysia Create a JNI program to calculate the electricity bill. The Java main program will request the user to provide the total electricity
- Food and Beverages at Southwestern University Football Games: Decision Making in Business Case Study UNM, Malaysia
- CBS1233: Introduction to marketing Assignment, SC, Malaysia Select a Malaysian company that is operating domestically and that wishes to move internationally
- MGT3443: Determine the transportation mode throughout the supply chain of the organization: Transportation Management Assignment, UPTM, Malaysia
- PGBM156: Strategic Management in an International Context Assignment, UOS, Malaysia: Required to briefly explain what this assessment is all about and what you will be addressing in this assessment
- ACC7102E: ACCOUNTING AND FINANCE FOR MANAGERS Assignment, UOM, Malaysia You are expected to be resourceful, innovative and creative when communicating and presenting your discussion
- Human Ecology Thesis, MUM, Malaysia In the year 2001, the Global System of Mobile Telecommunication (GSM) was introduced into the Nigerian market
- Company Law Coursework, UKM, Malaysia The number of companies collapsing into insolvency in England and Wales has jumped by nearly 40% in a year
- Python Assignment, LUC, Malaysia I wanted to automate the post with the text I provided in the code. I’ve tried a number of different approaches
