The closing stock of a business was $30 000 and the cost of goods sold was $600

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The closing stock of a business was $30 000 and the cost of goods sold was $600 000. Stock turnover is based on the average value of the opening and closing stocks.

If the stock turnover was 15 times, what was the opening stock?

A. $10 000

B. $40 000

C. $50 000

D. $80 000

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Accounting A Level And AS Level

ISBN: 9780521539937

1st Edition

Authors: Harold Randall

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Question Posted: Aug 28, 2023 01:37 PM

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The closing stock of a business was $30 000 and the cost of goods sold was $600

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Accounting A Level And AS Level

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