Silvia Is a Market Trader Who Deals in Shoes

Multiple Choice

Silvia is a market trader who deals in shoes.At 31 October 20X4 her closing inventory is valued at a cost of £13 750.Closing inventory includes a batch of shoes which cost Silvia £800 earlier in the year.This particular range of shoes has not sold well, and Silvia estimates that she will need to discount it heavily in order to shift it.She estimates that she can probably sell the batch of inventory for £300. What is the value of Silvia's closing inventory at 31 October 20X4, applying the rules of inventory valuation?

A) £14 550
B) £13 250
C) £13 750
D) £14 250