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

Preparation of financial statements — practice question

A sole trader supplied the information shown below. Sales revenue $200000 Inventory at the start $50000 Inventory at the end $75000 Gross margin 25% What was the value of purchases for the year?

  • A$125000
  • B$150000
  • C$175000
  • D$185000

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