Suppose Ali started business on 1st. January, 2019. During the year ending 31 December, 2019, he bought a quantity of le
Posted: Sun Jul 03, 2022 1:06 pm
Suppose Ali started business on 1st. January, 2019. During the year ending 31 December, 2019, he bought a quantity of leather shoes at a uniform cost and sold 5,800 ofthem at $50 each. An inventory check on 31 December, 2019 established he holds 650 unsold pairs. Ali’s gross profit for the year was $116,000. How much was the cost of a pairof shoes?