Accounting 9706 · AS & A Level · Analysis and communication of accounting information

Analysis and communication of accounting information — practice question

The data below are provided for a business for the year ending 31 December 2020: Rate of inventory turnover $20$ times Opening inventory $40\,000$ Closing inventory $20\,000$ Gross margin $25\%$ What was the revenue for the year ending 31 December 2020?

  • A$750\,000$
  • B$800\,000$
  • C$900\,000$
  • D$1\,000\,000$

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