Use the following information to answer the given question
$\begin{array}{c|c} & N \\ \hline \text{Stock in hand} & 4,000 \\ \text{Purchases for resale} & 5,000 \\ Sales & 3,500 \\ Margin & \text{20%}\end{array}$
The closing stock is

Similar Questions

Prof. Bush had two accounts with Olive Brother agreed to have only one balance outstanding. By which...

Suppliers' personal account are found in the ...

\(\begin{array}{c|c} & \text{1st Jan.} & \text{31st Dec.} \\ & ₦ & ₦ \\ creditor...

In government accounting, the method used which records on the basis of financial entity with self-b...

Which of the following has a debit balance? i. calls-in-arrears  ii. cash-in-advance  i...

Which of the following is a book of ordinary entry? ...

If sales return is understated, it implies that ------------------------------ is overstated ...

The unsubscribed share capital is ...

Which of the following expenses relate to the profit and loss account of a manufacturing firm? &n...

An advantage of using accounting ratios is that ...