Fraser Stores Ltd marks its goods up by 20% on cost. If the company received R2 280

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Fraser Stores Ltd marks its goods up by 20% on cost. If the company received R2 280 for certain goods sold, calculate the:

1. VAT output amount.

2. Cost of the goods sold.

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Fundamental Accounting

ISBN: 9781485112112

7th Edition

Authors: David Flynn, Carolina Koornhof, Ronald Arendse, Anna C. E. Coetzee, Edwardo Muriro, Louise Christel Posthumus, Louise Mancy Smit

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Question Posted: Aug 30, 2023 03:45 AM

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Fraser Stores Ltd marks its goods up by 20% on cost. If the company received R2 280

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To calculate the VAT output amount and the cost of goods sold well need to work through the problem ...View the full answer

Fundamental Accounting

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