Dhoni is a small business entity taxpayer who operates a retail sporting goods store. The value of his stock onhand at 1 July 2021 is $27,OOO and he reasonably estimatesthe value at 3O June 2022 to be $30,500. Dhoni carried out a stocktake and calculated the closing stock value to be$29,200. 

Advise Dhoni regarding accounting for the value of his trading stock at the end of the 2021/22 year of income.

 

Answer rating: 100% (QA)

In advising Dhoni regarding the accounting for the value of his trading stock at the end of the 2021... View the full answer