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Alpha limited commenced business on 1January 2022 with a single item of inventory costing 120,000....

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Accounting

Alpha limited commenced business on 1January 2022 with a single item of inventory costing 120,000. During the year it sold the item for 180,000 in cash. Total inflation was 10% but the item specific inflation was 12%. Calculate the profit on the basis of each concept of capital maintenance and demonstrate the impact on the Equity of the Company.

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