Reference no: EM132970543

Problem 1: Which of the following is the best definition of a business cost?

Select one:

a. Any receipt of money by the business

b. Any payment of money by the business

c. Any payment of money by the business or its owners

d. The use of resources by the business

Helibeb Limited buys and sells brown coarse sand in the course of its business. At the start of last month, Helibeb had an inventory of brown coarse sand valued at £5664 at cost. During last month, Helibeb bought coarse brown sand costing £6000. At the end of last month, Helibeb had an inventory of brown coarse sand valued at £4500

Note: No brown coarse sand was written off or written down as damaged or unsaleable in the course of last month.

Problem 2: How much was Helibeb's cost of inventory of brown coarse sand last month?