QUESTION TWO Mr Tono trades as a retailer of electric lamps and related products under the name
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QUESTION TWO
Mr Tono trades as a retailer of electric lamps and related products under the name of Tono Hardware.
Most goods in which he trades are purchased from various suppliers in a finished form. In addition, a
separate department of the firm manufactures various types of lampshades from purchased raw materials.
When finished, the lampshades are transferred to the shop at an agreed transfer price for sale. No
lampshades are sold other than through the shop.
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