The Following Information Relates to SellIT

question 9

Multiple Choice

The following information relates to SellIT:
5000 units of stock were sold for $10 per unit
The cost of that stock to SellIT was $4.50 per unit
Other costs incurred during the period totalled $10 000
Proceeds on sale of an item of plant during the period was $2000
The carrying amount of the plant at the date of disposal was $500.
SellIT would recognise the following amount as revenue for the period:

• A) $27 500.
• B) $50 000.
• C) $51 500.
• D) $52 000.

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