The profit shown in the financial accounts was 158500 but the cost accounts showed a different figure.
Question:
The profit shown in the financial accounts was £158500 but the cost accounts showed a different figure. The following stock valuations were used:
What was the profit in the cost accounts?
(a) £163179
(b) £140871
(c) £176129
(d) £153821 (2 marks)
CIMA Stage 1
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