The information below relates to inventory item Z.March 1 50 units held in opening inventory at a cost of $40 per unit17 50
units purchased at a cost of $50 per unit31 60 units sold at a selling price of $100 per unitUnder AVCO, what is the value of
inventory held for item Z at the end of March 31?
Cost Balance in
Date Units Unit cot of issues$ inventory $
1 March 50 $40 2,000
17 March 50 $50 2,500
100 $45* 4,500
31 March - 60 $45 2,700
40 $45 1,800
多做几道
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful
representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error
Which of the following accounting concepts means that similar items should receive a similar accounting treatment?
Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy
Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for
Financial Reporting?
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