At 31 March 20X7 Tentacle Ltd had 12, 000 units of product W32 in inventory, included at cost of $6 per unit. During April and May 20X7 units of W32 were being sold at a price of $5.40 each, with sales staff receiving a 15% commission on the sales price of the product. At what amount should inventory of product W32 be recognised in the financial statements of Tentacle Ltd as at 31 March 20X7?

COST ACCOUNTING STANDARDS

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Rs.5508
B	Rs.50000
C	Rs.55000
D	Rs.55080

Explanation:

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