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April 26, 2015

Homework Help: accounting

Posted by shaz on Tuesday, September 28, 2010 at 6:33pm.

during the period 1 oct to 10 october2008 the stock figure was $38 900
sales were $7800,the company makes a gross profit of30% on cost
(ii)purchases were$4000
(iii)returns in wards were$1950
(iv)one stock sheet had been overadded by$800while the other had been under-added by $560
goods costing $400 on sale/return basis had been included in stock figure
vi)inclu1ded in the stock,were goods costing $1200,the goods can now be sold at half the normal priceAFTER restorationwork costing
$200
vii)goods received on on a sale/return basishqad been included in stock at the amount payable of $600if retained.nodecision to retain the goods had been made
viii)a stock sheet totalling $128 had been transferred to the summary sheet as $182.
QUESTION:
CALCLATE THE VALUE OF STOCK AS AT 30 SEPTEMBER 2008

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