Sola gives you the information as at 31st December
Stock 1/12/98 - 12,000
Purchases - 68,000.
The mark-up on cost of sales is 25%. His average stock during the year was N30,000.
i. Calculate closing stock
ii. Prepare the profit and loss account
iii. Rate of stock turnover?
In Accounting
1 Answers Available
Asked by Owobii on 16th March, 2024
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