For 20X2, the wholesaler Distrimax reports: carrying amount of goods sold 340,000; write-downs to net realisable value recognised at the year-end 12,000; goods destroyed by water damage 3,000; reversal of a 20X1 write-down on items still in inventory whose selling price has recovered 5,000. Compute the total amount of inventories recognised as an expense in 20X2.
- Carrying amount of goods sold
- 340,000
- Write-downs for the period
- 12,000
- Losses of inventories (water damage)
- 3,000
- Reversal of a write-down
- 5,000