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You are given the following figures:
RM
Sales 8, 200
Carriage inwards 200
Carriage outwards 300
Closing inventory 900
Opening inventory 1, 300
Purchases 6, 400
Problem 1: The cost of goods sold is:
A. RM6, 800
B. RM6, 200
C. RM7, 000
D. RM7, 300
Accounts payable 27, 000
Accounts receivable 29, 000
Buildings 582, 000
Cash in hand 32, 700
Equipment 113, 500
Land 120, 000
Bank overdraft 15, 000
Problem 2: The net assets figure is:
A. RM61, 700
B. RM835, 200
C. RM815, 500
D. RM919, 200
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