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

Analysis and communication of accounting information — practice question

The information below was given for a business for the year ending 31 December: - Annual sales $400000 - Gross margin $20\% - Rate of inventory turnover 4 times - Opening inventory $60000 What was the closing inventory value?

  • A$70000
  • B$80000
  • C$100000
  • D$140000

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