Cost accounting

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    Fiza trades as a carpenter. He makes furniture for customer at an agreed price of Tk.25,000. At the end

    Fiza’s accounting year the job is unfinished and the following data have been assembled.

    Cost incurred for making the furniture to date Tk.15,500

    Further estimated cost to complete the job— Tk.12,200

    Total cost Tk.27,700

    What will be the net realizable value of WIP?

    Wiley CMAexcel Learning System

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