A business charges goods to its warehouse at factory cost plus 25%. It had no opening inventory

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A business charges goods to its warehouse at factory cost plus 25%. It had no opening inventory and closing inventory at the end of year 1 was valued at a transfer price of $3000. At the end of year 2 inventory was valued at a transfer price of $2400. Prepare a provision for unrealised profit account showing entries for both years.

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