The Sylvebois workshop is finishing a solid oak table intended for sale in its showroom. The accumulated cost of the table is 7,250. Its expected selling price is 8,100. Finishing costs of 450 (varnish and labour) remain to be incurred, and the sales agent will earn a commission of 320 on the sale. Determine the net realisable value and the amount of the table in inventories.
- Accumulated cost of the table
- 7,250
- Expected selling price
- 8,100
- Finishing costs still to be incurred
- 450
- Sales commission
- 320