The following information is given for the year ended 31 October 20*8 for Les: stock at 1
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The following information is given for the year ended 31 October 20*8 for Les: stock at 1 November 20*7 £3,419; stock at 31 October 20*8 £3,491; purchases £43,771; sales £74,911; returns inward £118; returns outward £489; wages £12,562; telephone £782; rates £1,750; motor expenses £6,488; general expenses £7,869.
Required
Prepare a trading and profit and loss account for the year ended 31 October 20*8.
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