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Enter the following in the petty cash book, using appropriate expenditure column headings. the book is kept in the the amount of imprest system. the amount of imprest is #40,000
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closing stock at the end is comprised of %a purchase price of $60000,10% discount and 15% import duty.The stock can be sold for $70000 after incurring costs of $1950.Included in the purchase price is abnormal wastage of $2000.Transportation costs are $1000 and storage costs are $500,what is the value of the closing stock?
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