Kong operate a distribution firm with a margin of 1 / 3. At the end of May he had sales of $900,000 and purchases of $550,000. His stock at start of the year was $260,000. At the end of May a firm at the firm destroyed most of his stock. On hand was a salvaged amount of $84,000. What was the value of the stock that was destroyed? $29,667 $126,000 $210,000 $294,000
Kong operate a distribution firm with a margin of 1 / 3. At the end of May he had sales of $900,000 and purchases of $550,000. His stock at start of the year was $260,000. At the end of May a firm at the firm destroyed most of his stock. On hand was a salvaged amount of $84,000. What was the value of the stock that was destroyed? $29,667 $126,000 $210,000 $294,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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8 Kong operate a distribution firm with a margin of 1 / 3. At the end of May he
had sales of $900,000 and purchases of $550,000. His stock at start of the year was
$260,000. At the end of May a firm at the firm destroyed most of his stock. On hand
was a salvaged amount of $84,000.
What was the value of the stock that was destroyed?
- $29,667
- $126,000
- $210,000
- $294,000
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