A company changed its method of accounting for inventory in 2022. This change in...
✅ The verified answer to this question is available below. Our community-reviewed solutions help you understand the material better.
A company changed its method of accounting for inventory in 2022. This change in method increased 2021 opening inventory by R22 000 and increased 2021 closing inventory by R8 000.
What is the effect on the cost of sales for 2021?
Answer: R
Note: Only enter the amount (do not show your calculation, and do not make use of spaces, full-stops, commas, R or negative (-) signs). Example: 74000
Want instant access to all verified answers on mylms.vossie.net?
Get Unlimited Answers To Exam Questions - Install Crowdly Extension Now!