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Question 5.6: Assume that on December 1st 20X3, Artisan SA has a beginning...

Assume that on December 1st 20X3, Artisan SA has a beginning inventory of 2000 units at 4400 lei each. During December, the company manufactured 5000 units with a production cost of 4576 lei per unit and sold 6000 units. The company uses the periodic inventory and FIFO method for assigning costs. At the end of the financial year, the expected selling price of these products is 4800 lei. In order to sell its products, the company estimates packaging and distribution costs of 300 lei. What is the balance sheet value of these inventories?

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