(a)[3]
Calculate the values, at cost, of the following: inventory of finished goods at 1 July 2022 cost of production inventory of finished goods at 30 June 2023.
(b)[13]
Prepare a revised statement of profit or loss for the year ended 30 June 2023.
(c)[1]
State which accounting concept is being applied to the treatment of the goods sent on a sale or return basis in item 2.
(d)[3]
Explain how you would treat the legal proceedings in item 4.
(e)[5]
Advise the directors whether or not to stop applying factory profit. Justify your answer.