Reference no: EM132646295

Information on ABC Co.'s December 31, 20x1 inventory is shown below:

                                                 Product A                  Product B                    Product C

Purchase price                        100,000                 250,000                    300,000

Freight in                                 12,000                   30,000                      36,000

Selling price                               210,000                  300,000                  570,000

Freight out                                10,500                     75,000                    11,400

General Overhead Cost                   6,300                        9,000                    17,100

Requirements:

Question a. Compute or the inventory to be presented in ABC's December 31,20x1 statement of financial position.

Question b. Compute for the amount of write-down to be recognized in 20x1 profit or loss.