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At 31 August 2021, the financial year-end of Sibasa Traders, the following infor...
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At 31 August 2021, the financial year-end of Sibasa Traders, the following information was obtained from the entity’s accounting records:
|
R
|
Net sales
|
624 362
|
Net purchases
|
395 429
|
Inventory (1 September 2020)
|
49 948
|
Inventory (31 August 2021)
|
40 583
|
Fees earned
|
65 558
|
Carriage on purchases
|
12 487
|
Advertising
|
9 365 |
Calculate the cost of sales amount from the above information as reflected in the Trading account for the year ended 31 August 2021.
NB: Instructions
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Only show the amount, do not show the R (eg: 12141.72)