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Calculate the Cost of Goods Sold from the following data.
Details Amount ($)
Cartage outwards 8500
Customs duty 5400
Stock (opening) 3950
Cartage inwards 6200
Stock (closing) 5700
Purchases returns 1000
Sales commissions 5300
1. For a trading firm, revenue is recognised when the goods are delivered.
2. In the income statement, insurance would be classified as a financial expense.
3. Allowance for doubtful debts is a negative liability.
4. Accrued expenses are liabilities yet to be paid.
5. The physical stocktake valuation at the end of the accounting period is deducted from 'Cost of goods available for sale'.
Prepare a list of 20 questions that the general manager could use..
Prepare a list of 20 questions that the general manager could use, the reasons for the questions and describe the way in which you would provide the information
Please just list them nothing fancy thank you