I have a interview today, but I want to have the answer for a question raised in interview, pls let me know the correct answer! Thanks.
Recall my memory, the question is below:
Record the Journal entries and record the profit margin accordingly.
The sales is HK$1,200,000 in July, (in which the goods HK$200,000 will delivered in 5 August, and the related cost of sales will be $150,000) the total cost of $1,000,000, and the closing stock $100,000.
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