Sales of finished goods by a business for the year ended 30 June 2019 were $40,000, the
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Sales of finished goods by a business for the year ended 30 June 2019 were $40,000, the selling price showing a gross mark-up of 25% on cost.The inventory of finished goods at 1 July, 2018 valued at cost, was $6,000 and at the 30 June, 2019 at cost valued at $10,000.
What was the cost of production for the year ended 30th June, 2019?
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