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Blacks mark up is 20% on cost. The closing inventory at 31 December 2019 has...

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Accounting

Blacks mark up is 20% on cost. The closing inventory at 31 December 2019 has been counted and valued at cost and amounts to 81,750. This amount includes items which cost 6,700. These goods were damaged in the store by a forklift truck and it is estimated that it will cost 500 to rectify the damage. The goods will then be in a condition to be sold at a discount of 25% on full price. At what value should inventory be stated at 31 December 2019? Select one: 75,050. 80,580 81,250 76,220

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