A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2013 · Q191 Mark

The following financial information was provided at 31 December 2012. $ purchases 95.000 returns inwards 3300 returns outwards 2100 inventory withdrawn for personal use 5000 Inventory on 31 December 2012 was valued at $1000 more than on 1 January 2012. What was the cost of sales?

A$85700

B$86 900

C$89000

D$97 100

✓ Correct answer

B: $86 900

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2013 Paper 1 Variant 2, question 19.

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