Mathematics · Inventory Valuation - Adjustments
In preparing the financial statements for the year ended 31 March 20X6, a physical inventory count was performed on 4 April 20X6, and the value of inventory counted on that date was $36.0 million. Between 31 March and 4 April, goods with a cost of $2.7 million were received into inventory, and sales of $7.8 million were made at a 30% mark-up on cost. Determine the correct inventory value as at 31 March 20X6.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1$33.3 million
- 2$36.0 million
- 3$39.3 million
- 4$39.3 million✓
Correct answer
$39.3 million
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