The following data have been taken from the books of CB plc, which uses a non-integrated accounting system:
|
Financial accounts £ Don't use plagiarized sources. Get Your Custom Essay on
which uses a non integrated accounting system 610015
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Cost accounts £ |
|
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Opening stock of materials |
5000 |
6400 |
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Closing stock of materials |
4000 |
5200 |
|
Opening stock of finished goods |
9800 |
9600 |
|
Closing stock of finished goods |
7900 |
7600 |
The effect of these stock valuation differences on the profit reported by the financial and cost accounting ledgers in that:
A the financial accounting profit is £300 greater than the cost accounting profit.
B the financial accounting profit is £2100 greater than the cost accounting profit.
C the cost accounting profit is £300 greater than the financial accounting profit.
D the cost accounting profit is £900 greater than the financial accounting profit.
E the cost accounting profit is £2100 greater than the financial accounting profit.
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