Question

Joe's Jumpers sells woollen Jumpers for the Winter. 

On the 1st May Joe had 100 Jumpers valued at $50 each which he originally paid for 

On the 5th May Joe sold 50 Jumpers for $80+$8 GST each (Rec. No. 123) 

On the 10th May Joe decided to sell each remaining Jumper for $50 each and paid $10 for a special wrapping to protect the Wool for each jumper. (Memo 12)

 a) Calculate the NRV of the Jumpers as of the 11th May.  

 b) Record the write down in the stock card

Answer 1

ADDITIONAL SHEET Exam ID No Addl Sheet No. Sign of invig on、 Cest or eash Date: = 88 x So $ 4460 . Actve being price qeach tumpe-so-10- 600 OvT Balaue IN b) too 5o Stoo So 88 q40 5o 50 2500 ---50 s0 2s00