James Harvey runs a stationery supplies shop. He is convinced that one of his employees is stealing

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James Harvey runs a stationery supplies shop. He is convinced that one of his employees is stealing stationery. He asks you to calculate from the accounting records the value of stock stolen. The following information is available:

• sales for the year, £180,000

• opening stock at the beginning of the year, £21,500

• purchases for the year, £132,000

• closing stock at the end of the year, £26,000

• the gross profit margin achieved on all sales is 30 per cent You are to calculate the value of stock stolen (if any) during the year.

Related Book For answer-question

Introduction to Electrodynamics

ISBN: 978-8120316010

3rd Edition

Authors: David J. Griffiths

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Posted Date: Jul 21, 2021 01:00 PM

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James Harvey runs a stationery supplies shop. He is convinced that one of his employees is stealing

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Cost of goods soldCOGS opening stockPurchasesclosing stock 21500132000... View the full answer

Introduction to Electrodynamics

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