The financial year of Mitex Co ended on 31 December 20X1. An inventory count on January 4 20X2 gave a total inventory value of $527,300. The following transactions occurred between January 1 and January 4. $ Purchases of goods 7,900 Sales of goods (gross profit margin 40% on sales) 15,000 Goods returned to a supplier 800 What inventory value should be included in Mitex Co’s financial statements at 31 December 20X1?
A、$525,400
B、$527,600
C、$529,200
D、$535,200
A、$525,400
B、$527,600
C、$529,200
D、$535,200
【参考答案及解析】
Inventory count, 4 January 20X2 527,300 Purchases since end of year (7,900) Cost of sales since end of year(15,000 x 60%) 9,000 Purchase returns since end of year 800 Inventory at 31 December 20X1 529,200
Inventory count, 4 January 20X2 527,300 Purchases since end of year (7,900) Cost of sales since end of year(15,000 x 60%) 9,000 Purchase returns since end of year 800 Inventory at 31 December 20X1 529,200