Retailers Ltd had the following transactions regarding a particular stock item for the month of...
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Accounting
| Retailers Ltd had the following transactions regarding a particular stock item for the month of April 20x1: |
| 1 Opening inventory 65 units at R30 |
| 2 Sold 20 units. |
| 7 Purchased 85 units at R35 each. |
| 15 Purchased 115 units at R25 each. |
| 20 Sold 215 units. |
| 25 Purchased 65 units at R30 each. |
| 30 Sold 70 units. |
| The company requires a 20% mark-up on cost price. |
| Required |
| For the month of April 20x1: |
| 5.1 Calculate the gross profit using WAVCO.
Indicate the cost of sales and closing inventory rand values below Cost of sales = Closing Inventory =
|
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