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General Accounting Discussions: Purchase consumables

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    Hi,

    If anyone can help that would be great...
    my question is:
    If a company has purchase consumables left at the year end (£12,900) as this is stock consumables would this figure be the closing stock figure i use in the income statement?

    thanx
    Thankful People: surakd
  2.  
    Show the cost of consumables consumed during the period in the Income Statement and show the amount of 12,900 in the balance sheet as Consumable Inventory

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