Ricky started up in business on 1 July. During July Ricky made purchases totalling 66,000. This...
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Ricky started up in business on 1 July. During July Ricky made purchases totalling £66,000. This included insurance and delivery charges of £3,900. Ricky returned to his suppliers goods invoiced at £6,600 and received a full allowance for these. Ricky paid his suppliers a total of £23,760 during July. At the end of July Ricky had unsold goods costing £5,520 in inventory. What is Ricky's cost of sales for July? Ricky started up in business on 1 July. During July Ricky made purchases totalling £66,000. This included insurance and delivery charges of £3,900. Ricky returned to his suppliers goods invoiced at £6,600 and received a full allowance for these. Ricky paid his suppliers a total of £23,760 during July. At the end of July Ricky had unsold goods costing £5,520 in inventory. What is Ricky's cost of sales for July?
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Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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