osbourne book unit 15

hi, i am stuck on question 2.4 of the text book
they ask u to prepare teh profit and loss a/c,but i can't seem to find the closing stock, please someone help me. thanks


  • Rinske
    Rinske Registered Posts: 2,453
    Based on the information given, I would guess 5,000.
    On p 51 it says he normally maintains his stock at a constant level by purchasing goods in the month in which they are sold, with an exception that in November he purchases 50% of the goods he expects to sell in December in advance. in the given balance sheet the stock was 5,000, do I would expect that to remain the same in February.
  • meibaker
    meibaker Registered Posts: 481
    oh i see. many thank
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