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FA BPP Revision Kit 2020-2021, Preparing Basic Financial Statements, 19.3 ,Pg 90

AAsif5y ago
Greetings sir, 19.3 Task 1 - why is the Inventory at 1 Nov 2015 not considered part of the Profit or Loss Account ? Doesnt the SOPL contain COS which should contain the Opening Inventory Balance ? I see Purchases included in P/L which is also part of the COS.
John MoffatJohn MoffatTutor5y ago#1
The answer is wrong - the opening inventory does appear in the SOPL :-)
AAsif5y ago#2
Nice, I win over BPP :)
John MoffatJohn MoffatTutor5y ago#3
:-)
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