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Hi sir,
In the answer of 19.3 (Tonson), it is said that inventory at 1 November 20X5(opening inventory) will not appear on P/L. But isn’t opening inventory appear on SOPL under ‘cost of sales’? Thank you for explanation,sir!
Opening inventory is part of the calculation of the cost of sales.
Tonson is a limited company, and limited companies just show the cost of sales on the SOPL (the workings for it is done separately).
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