The fabric trader Textilor wrote down its rolls of linen and silk last year, as they had become hard to sell. This year, fashion is turning back to natural materials and the rolls, still in the warehouse, are finding buyers again. Linen: cost 40,000, opening carrying amount 31,000, net realisable value at the year-end 36,000. Silk: cost 15,000, opening carrying amount 11,000, net realisable value at the year-end 17,000. Determine the total reversals for the year and the total carrying amount of the two product lines at the year-end.
- Cost of the linen rolls
- 40,000
- Opening carrying amount of the linen
- 31,000
- Net realisable value of the linen at the year-end
- 36,000
- Cost of the silk rolls
- 15,000
- Opening carrying amount of the silk
- 11,000
- Net realisable value of the silk at the year-end
- 17,000