A batch of 1,500 units industrial pumps, costing 120 each, is held in Jairnane's inventory at the reporting date; a design defect had been known since November. They are sold in February at 110 each, with selling costs of 6 each. Determine the inventory amount and the write-down at the reporting date.
- Quantity in inventory at the reporting date
- 1,500
- Unit cost
- 120
- Unit selling price obtained after the reporting date
- 110
- Unit selling costs
- 6