A-LevelAccountingPreparation of financial statements9706/12 · May/June 2014 · Q111 Mark
A business provides the following information. $, revenue 140000, opening inventory 22000, closing inventory 24 500, purchases 120000 Goods are sold at cost plus 25%. The owner has taken goods for own use but has not recorded these as drawings. What is the value of the goods taken for own use?
A$5500
B$10500
C$12500
D$17500
✓ Correct answer
A: $5500
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