What is the value of the closing inventory (stock) of the retailer? (a) Nil (b) 160 (c)
Question:
What is the value of the closing inventory (stock) of the retailer?
(a) Nil
(b) £160
(c) £275
(d) £440
The following information applies to question.
The following are business transactions of a retailer:
Purchased 150 items of cost £4 each for cash.
Delivered 110 items to customers for cash at a selling price of £6.50 per item.
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b Closing inventory stock is 160 1 2 3 Transaction or event Purchase goods paying ...View the full answer
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