AB Ltd has two products as its inventory as at 31 December 2018.They are Pink...
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Accounting
AB Ltd has two products as its inventory as at 31 December 2018.They are Pink Sheet(Completed) and Dumsor(Part completed) . There are 400 units of Pink Sheet in the warehouse with a cost per unit of GHS15. With respect to Dumsor, there are 250 units of it in the warehouse with a cost per unit of GHS 8. Both Pinksheet and Dumsor sells at GH28 each. However AB Ltd intends to offer a discount of 10% per unit and also expects to incur a selling cost of GHS3 on both Pink Sheet and Dumsor. It will cost GHS8 per unit to fully complete each unit of Dumsor.
Required:
In accordance with IAS 2 Inventories, at what amount should inventory be stated in the financial statements of Esinam Ltd as at 31 December 2016?
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