An auditor for the Inland Revenue is trying to reconstruct some partially destroyed records of two taxpayers.
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Case 1 Case 2 Debtors, 31 December 2008 Cost of goods sold Creditors,1 January 2008 Creditors, 31 December 2008 Finished goods stocks, 31 December 2008 Gross margin Work in progress, 1 January 2008 Work in progress, 31 December 2008 Finished goods stocks, 1 January 2008 Direct material used Direct manufacturing labour Indirect manufacturing costs Purchases of direct material Revenues Debtors, 1 January 2008 E6000 £2100 A 20000 3000 1700 1500 В 5300 1800 11300 te 0 800 3000 000 4000 8000 12000 9000 7000 32000 31800 2000 1400
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Let G given I inferred Step 1 Use gross margin formula Case 1 Case 2 Revenues 32000G 31800G ...View the full answer
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Related Book For
Management and Cost Accounting
ISBN: 978-1405888202
4th edition
Authors: Alnoor Bhimani, Charles T. Horngren, Srikant M. Datar, George Foster
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