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Hello sir
First I appreciate your lectures and thank you for such a good lecture.
Sir I saw a question from Bpp revision kit in inventory,question number is 6.1.
The question is,year Ended total inventory has $950,000.
And following transaction took place during the year …Purchase of goods. $11,750
Sales (mark up 15%) $14950
Goods return to supplair. $1500
Q, what should be included in sofp.Sir I didn’t understand the logic of that question neither which one should be subtracted and which one added.
Please explain the logicI think you have missed typing the date in the question.
I am away from home at the moment and so do not have access to the revision kit. I get home late tonight, so please ask again tomorrow – I have the revision kit at home and so I will then be able to give you a proper answer 🙂
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