A pottery company had sales of N176,000 during the current period and a gross profit rate of 40%.
The company's cost of merchandize available for sale during the period was N128,000. The company's ending inventory is

Similar Questions

The first step in converting as single entry to a double entry system of bookkeeping is to prepare a...

Given: I. It records subscription in arrears II. Payments of liabilities is effected III. The a...

Rate of stock turnover is defined as ...

In an incomplete record system a trading account cannot be prepared until the ...

2/3 Purchases 900 books at #1,000 each 4/3 Purchases 590 books at # 950 each 15/3 Sales 300 books ...

An expense is said to be revenue in nature if it ...

The most important reason for studying accounting is that ...

Which of the following is not a proper form of the accounting equation? ...

Costs that vary in proportion to the level of production in a manufacturing environment are known as...

A business which converts raw materials to finished goods prepares ...