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At the start of the year on 1 January, a business had an inventory of stationery which had cost
$\$ 3740$. On that date, $1200 was owed to suppliers for stationery.

During the financial year ended 31 December, a total of $\$ 38800$ was paid for stationery. Some old stationery was sold to staff for $240.

At the end of the year on 31 December, the business had an inventory of stationery valued at
cost, $\$ 4200$. On that date, $\$ 1800$ was owed to suppliers for stationery.

Which figure should be included in the statement of profit or loss for the year ended 31 December
for stationery? 

1 ) 

$34960

2 ) 

$36160

3 ) 

$38700

4 ) 

$38940

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