Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

A sole trader recorded these transactions. Returns outwards $2750$ Carriage inwards $4820$ Goods for own use $1460$ What is the overall effect of these transactions on the cost of sales?

  • A$610 increase
  • B$3530 increase
  • C$6110 decrease
  • D$9030 decrease

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