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ses have business NES -sales tax IE One of the products a garage sells to...

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Accounting

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ses have business NES -sales tax IE One of the products a garage sells to motorists is diesel fuel. Diesel fuel in inventory at 1 November 20X7 was $12,500, and there were invoices awaited for $1,700. During the year to 31 October 20X8, diesel fuel invoices of $85,400 were paid, and a delivery worth $1,300 had yet to be invoiced. (This was the only outstanding balance on the diesel fuel payable account at the year end.) At 31 October 20X8, the inventory of diesel fuel was valued at $9,800. What is the value of diesel fuel to be charged to the garage's statement of profit or loss and other comprehensive income for the year to 31 October 20X8? A $87,700 B. $89,400 $88,500 D $91,100 (2 marks

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