After close Balance Sheet, we find a expense which was wrongly debited in Profit and Loss A/c. How we adjust next accounting period?
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If Cost of goods sold is Rs.80,700, Opening stock Rs.5,800 and Closing stock Rs.6,000. Then the amount of purchase will be (a) Rs.80,500 (b) Rs.74,900 (c) Rs.74,700 (d) Rs.80,900.
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