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The following information applies to Newport Ltd in respect of the year ended 31 December 2021: Revenue 72,000 Inventories at 1 January 202110,000 Purchases 40,000

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The following information applies to Newport Ltd in respect of the year ended 31 December 2021: Revenue 72,000 Inventories at 1 January 202110,000 Purchases 40,000 At 31 December 2021 Newport Ltd had unsold inventories in the warehouse which had cost the company 8,000. What is the cost of sales for the year ended 31 December 2021 ? a) 30,000 b) 34,000 c) 38,000 d) 42,000

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