Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

A business gives the following figures: gross margin $20\%$; sales $275325$; opening inventory $25450$; closing inventory $55975$. What is the amount of purchases?

  • A$189735
  • B$220260
  • C$250785
  • D$259963

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