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Nealex is a producer of crispy banana chips. The goods produced are marked up by 10% each year. The firm has provided the following data:
Nealex is a producer of crispy banana chips. The goods produced are marked up by 10% each year. The firm has provided the following data: Year Closing Stock of Finished Goods Mark-Up 2015 715,000 2016 880,000 10% 2017 770.000 10% 2018 704.000 10% 2019 902.000 10% 10% 2020 825,000 10% What adjustment would be needed for the change in provision for unrealized profits for the year 2016? Decrease by $15,000 Decrease by $80,000 Increase by $80,000 Increase by $15,000
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