Dhoni is a small business entity taxpayer who operates a retail sporting goods store. The value of
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Dhoni is a small business entity taxpayer who operates a retail sporting goods store. The value of his stock onhand at 1 July 2021 is $27,OOO and he reasonably estimatesthe value at 3O June 2022 to be $30,500. Dhoni carried out a stocktake and calculated the closing stock value to be$29,200.
Advise Dhoni regarding accounting for the value of his trading stock at the end of the 2021/22 year of income.
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078110894
6th Edition
Authors: Edmonds, Tsay, olds
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