The profit shown in the financial accounts was £158,500 but the cost accounts showed a different figure. The following stock valuations were used: Stock valuations Cost accounts Financial accounts Opening stock £34,260 32,140 Closing stock £68,240 £70,192 What was the profit in the cost accounts? A £162,572 B £154,628 C £162,620 D £162,402

The profit shown in the financial accounts was £158,500 but the cost accounts showed a different figure. The following stock valuations were used: Stock valuations Cost accounts Financial accounts Opening stock £34,260 32,140 Closing stock £68,240 £70,192 What was the profit in the cost accounts? A £162,572 B £154,628 C £162,620 D £162,402

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.17E: Profitability metrics The following selected data were taken from the financial statements of The...

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