Accounting · IAS 2 Inventories
Nexus Co sells three products: Basic, Super, and Luxury. The following information is available at year-end: - Basic: 500 units; Cost = $10/unit; Estimated Selling Price = $9/unit; Selling Costs = $1/unit. - Super: 1,250 units; Cost = $9/unit; Estimated Selling Price = $12/unit; Selling Costs = $4/unit. - Luxury: 850 units; Cost = $20/unit; Estimated Selling Price = $26/unit; Selling Costs = $5/unit. In accordance with IAS 2 Inventories, what is the total value of inventory at year-end?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1$31,000✓
- 2$34,100
- 3$34,500
- 4$40,000
Correct answer
$31,000
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