In the answer there are closing and opening balance for heating oil in hand . I dont understand this part the rest of the question i can attempt using the method in the lectures.
Ask the Tutor ACCA FA
question 10.3 bpp
6y ago#1It is dealt with in the same way as we always deal with inventories.
The cost of oil used during the year will equal the opening inventory plus the purchases less the closing inventory.
Sign into reply to this topic.