The figures given below are all that could be salvaged from the records after a recent fire

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The figures given below are all that could be salvaged from the records after a recent fire in the offices of Firelighters Limited. The company manufactures a single product, has no raw materials or work in progress and values its stock at marginal cost (i.e. at variable manufacturing cost) using the FIFO basis. It is known that the unit closing stock valuation in 2010 was the same as in 2009.

Required:
Prepare a revenue statement for management showing contribution, operating profit and net profit for each year in as much detail as the information given above permits.

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Business Accounting Uk Gaap Volume 2

ISBN: 9780273718802

1st Edition

Authors: Alan Sangster, Frank Wood

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