The following information relates to questions 7-9
The following balances were extracted from the books of Peter Moses a sole trader on December 31, 2018;
$
Sales 9,600,000
Return inwards 100,000
Return outwards 70,000
Carriage inwards 150,000
Purchases 3,820,000
Stock at 1.1.2018 1,500,000
Stock at 31.12.2018 2,000,000
What is the Cost of Sales?
Question 7Answer
a.
5,400,000
b.
3,400,000
c.
7,200,000
d.
8,400,000