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
$38700
4 )
$38940
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