q6: Which of the following are deducted from revenue in arriving at profit before tax? The following question has more than one correct answer, you need to select all of them to gain marks.

Administrative expenses

Distribution costs

Cost of sales

Dividend Paid

Transfers to retained earnings

7.Consider the following: Beginning inventory 10 units @ Rs. 10 per unit

First purchase 35 units @ Rs. 11 per unit

Second purchase 40 units @ Rs. 12 per unit

Third purchase 20 units @ Rs. 13 per unit

Eighty units were sold, what is the value of the ending inventory using the LIFO method of inventory costing?

Rs.265

Rs.320

Rs.232

Rs.284