During the year a retailer buys 800 televisions at $400 each and sells 600 of them for
Question:
During the year a retailer buys 800 televisions at $400 each and sells 600 of them for $1000 each. Calculate the following:
(i) Sales revenue for the year
(ii) Cost of goods sold for the year
(iii) The closing balance of inventory in the balance sheet related to the televisions.
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Related Book For 
Financial Accounting An Integrated Approach
ISBN: 9780170411028
7th Edition
Authors: Ken Trotman, Elizabeth Carson
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