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CIMAPRA17-BA3-1 Exam - Topic 1 Question 53 Discussion

AB sells two products ,X and Y. The following information was available at AB's year-end, 31 December 20X6:At 31 December 20X6 AB held 800 units of Product X and 400 units of Product YWhat is the value that will be included in inventories in AB's statement of financial position as at 31 December 20X6?
D) $118,000
A) $120,000
B) 5134,000
C) $138,000

CIMAPRA17-BA3-1 Exam - Topic 1 Question 53 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam
Question #: 53
Topic #: 1
[All CIMAPRA17-BA3-1 Questions]

AB sells two products ,X and Y. The following information was available at AB's year-end, 31 December 20X6:

At 31 December 20X6 AB held 800 units of Product X and 400 units of Product Y

What is the value that will be included in inventories in AB's statement of financial position as at 31 December 20X6?

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Suggested Answer: D

by Lashandra at Jun 15, 2022, 08:43 PM

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Vince
10 months ago
Totally agree, $138,000 makes the most sense!
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Abel
10 months ago
Wait, how did they get $5134,000? That seems way off!
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Katina
10 months ago
Not sure about that, I thought it was $120,000.
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Buddy
11 months ago
I think the total value is $138,000.
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Trinidad
11 months ago
Product X has 800 units and Y has 400.
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Maryann
11 months ago
I'm really unsure about how to approach this. Should we just multiply the units by their costs directly?
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Elinore
11 months ago
Wasn't there something about FIFO and LIFO in our practice? I wonder if that applies here or if it's just straightforward valuation.
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Rasheeda
11 months ago
I think we need to calculate the total value of both products based on their unit costs. I hope I remember the costs correctly!
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Elenor
11 months ago
I remember we did a similar question about inventory valuation, but I can't recall the exact formula we used.
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Keena
11 months ago
Hmm, this looks tricky. I think the key is to figure out what the `coalesce()` function is supposed to do and why it's not working as expected.
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Alfred
11 months ago
Hmm, I'm a bit unsure about this one. I know we need to configure something to handle unrecognized user input, but I'm not totally sure if Fallback topic is the right answer. I'll have to think this through a bit more carefully.
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Elly
11 months ago
I'm not completely sure, but I remember something about the do-it-yourself approach being a common issue. That seems plausible.
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