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The following information was obtained from the accounting records of Letty Stores for the financial year ended 30 June 2021:

R

Inventory (1 July 2020)

100 000

Sales

600 000

Purchases

400 000

Sales returns

2 000

Purchases returns

3 000

Drawings: Bank

1 000

Inventory (30 June 2021)

120 000



Additional information:

1. On 29 June 2021, the owner took inventory with a cost price of R20 000 for own use. This transaction has not yet been recorded.

The entity uses the periodic inventory control system.



Required:

Use the information provided above to calculate the cost of sales for the year ended 30 June 2021.

1 Answer

1 vote

Answer:

333234

Explanation:

333234$ for the next 4 years and the ecvation is 69$+-2$

User Renzo Tissoni
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