A-LevelAccountingPreparation of financial statements9706/12 · May/June 2010 · Q141 Mark

The table shows transactions relating to an inventory (stock) item during a period. number of units per unit bought 100 cost $16 sold 60 selling price $25 Of the remaining units, 20 are damaged and can only be sold for $10 each. What is the profit for the period?

A$220

B$300

C$420

D$540

✓ Correct answer

C: $420

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, May/June 2010 Paper 1 Variant 2, question 14.

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