Accounting · IAS 2 Inventories
At 30 September 20X3, Nordix Co had in inventory 120 units of work in progress which had cost $18,600 to produce. It estimated that each unit would cost $15 to complete, and that each unit would then sell for $190. Direct selling costs are estimated at 2% of revenue. In accordance with IAS 2 Inventories, what is the correct carrying amount of Nordix Co's work in progress inventory as at 30 September 20X3?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1$20,400
- 2$22,344
- 3$20,544
- 4$18,600✓
Correct answer
$18,600
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Accounting?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice IAS 2 Inventories MCQs →Want more practice questions on IAS 2 Inventories?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · IAS 2 Inventories