Answer in Accounting for Masana #105201
March 17th, 2023
The cost of sales is (1) 47 500
The cost of sales = Inventory (1 July 20.7) + Cash purchases + Credit purchases – Purchases returns + Freight inwards – Settlement discount received – Value of taps and basins to the local crèche – Inventory (31 July 20.8)
The cost of sales = 150000 + 15000 + 6000 – 2000 + 1200 – 1700 – 1000 – 120000 = 47500