Below you will find information regarding all sales and purchases of inventories made by Pioneer Ltd during
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Question:
- Below you will find information regarding all sales and purchases of inventories made by Pioneer Ltd during January 2011:
- On January 4th, Pioneer purchased inventories on credit for £30,000.
- On January 14th, Pioneer made cash sales of £34,000.
- On January 19th, Pioneer bought some more inventories for £27,000 and paid for them in cash.
- On January 27th, Pioneer made a sale on credit for £55,000.
- On January 31st, the closing inventories in Pioneer’s warehouse totalled £18,000.
- The opening inventories on January 1st totalled £10,000.
- What is the gross profit or loss made by Pioneer Ltd during January 2011?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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