Iditional questions 1. Boris is a trader in fresh fruits. During June 2017, he reported sales of $120,000. His opening stock was $26,000 and purchases for the month was $114,000. Mark up is 50%. What was the closing stock?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Iditional questions
1. Boris is a trader in fresh fruits. During June 2017, he reported sales of $120,000. His
opening stock was $26,000 and purchases for the month was $114,000. Mark up is 50%.
What was the closing stock?
Transcribed Image Text:Iditional questions 1. Boris is a trader in fresh fruits. During June 2017, he reported sales of $120,000. His opening stock was $26,000 and purchases for the month was $114,000. Mark up is 50%. What was the closing stock?
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