The household appliance retailer Électroprime recognised revenue of 720,000 in 20X1 (given, determined under IFRS 15). The appliances sold had a carrying amount of 515,000. At the year-end, models that had become obsolete were written down by 21,000, and breakage found in the warehouse represents 4,000. Finally, a batch of air conditioners written down last year and still in inventory saw its net realisable value recover, hence a reversal of 9,000. What amount of inventories is recognised as an expense in 20X1?
- Revenue (given)
- 720,000
- Carrying amount of appliances sold
- 515,000
- Write-down of obsolete models
- 21,000
- Breakage in the warehouse
- 4,000
- Reversal on the air conditioners
- 9,000