Amanse Golf Club sells refreshments to it's members. Suppliers for refreshments were owed Ghc250 on 1 January and Ghc400 on 31 December. Payments to the suppliers during the year were Ghc7,200. The inventory at the end of the year was Ghc100 less than the inventory at the start of the year. What was the cost of sales of refreshments? c. Ghc 7,300

Amanse Golf Club sells refreshments to it's members. Suppliers for refreshments were owed Ghc250 on 1 January and Ghc400 on 31 December. Payments to the suppliers during the year were Ghc7,200. The inventory at the end of the year was Ghc100 less than the inventory at the start of the year. What was the cost of sales of refreshments? c. Ghc 7,300

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A golf club sells refreshment to it's members. Suppliers for refreshment were owed 250 on 250 on 1 January and 400 on 31 December. Payment to suppliers during the year were 72000. The inventory at the end of the year was 100 less than the inventory at the start of the year. What was the cost of sales refreshment