dditional questions 1. Boris is a trader in fresh fruits. During June 2017, he reported sales of $120,000. His opening stock was $26,000 and purchases for the month was $114,000. Mark up is 50%. What was the closing stock? 2. Savoy is a trader in sweet foods. The firm operates with a margin of 25%. During the month of July 2017, opening stock was $60,000, purchases was $310,000 and closing stock was $70,000. What as the sales for the month? 3. The Granite Stone is a trader in a fancy kitchen counter. The firm operates with a mark up of 66.67%. During the month of June 2017, opening stock was $80,000; purchases was $310,000 and sales was 500,000. At the end of June, a portion of the closing stock was damaged and could not be sold. The amount recovered was $40,000. 4. a. What was the value of the closing stock? b. What portion of stock was damaged? A fire broke out at Hall's Mall, destroying most of its stock of goods. The amount salvaged was valued at 6,000. The following data was available: Balances at June 1, 2011 Stock 23,750 Debtors 16,000 Creditors 11,520 Transactions to date Receipts from customers 61,000 Cash sales 17,220 Payments to suppliers 59,630 Balances to date 18,780 14,210 Debtors Creditors Given that goods are marked up at 50%. Calculate the value of goods that were destroyed in the fire.