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(11) On 1 January 20X6, the Grand Union Food Stores had goods in inventory valued at $6,000. During 20x6 its proprietor
Posted: Wed Apr 27, 2022 10:45 am
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- 11 On 1 January 20x6 The Grand Union Food Stores Had Goods In Inventory Valued At 6 000 During 20x6 Its Proprietor 1 (22.74 KiB) Viewed 60 times
(11) On 1 January 20X6, the Grand Union Food Stores had goods in inventory valued at $6,000. During 20x6 its proprietor purchased supplies costing $50, 000. Sales for the year to 31 December 20X6 amounted to $80,000. The cost of goods in inventory at 31 December 20x6 was $12,500. What is the gross profit for the year? A 36,500 B 4: B 43,500 C 56,000 D30,000