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FAC1502-25-S1
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Use the information provided below to calculate the cost of sales:
|
R
|
Opening inventory
|
160 000
|
Purchases
|
240 000
|
Settlement discount granted
|
35 000
|
Carriage on sales
|
12 000
|
Settlement discount received
|
23 000
|
Closing inventory
|
330 000
|
Instructions:
1. Use a full stop to indicate any decimals
2. Round off to the
3. Only show the amount,
do not show the R(eg:
12141.72)
Indicate by choosing the correct option whether the following statement is true or false:
Purchases returns will be closed off to the trading account at the end of a financial year.
Indicate by choosing the correct option whether the following statement is true or false:
Bank overdraft is an example of a current asset element of the statement of financial position.