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

Preparation of financial statements — practice question

For the year that ended on 31 December 2016, the following figures are given: revenue $75\,000$; purchases $32\,000$; carriage inwards $5\,400$; carriage outwards $4\,500$; inventory at 1 January 2016 $6\,300$; inventory at 31 December 2016 $7\,600$. What was the gross profit for the year ended 31 December 2016?

  • A$36\,300$
  • B$37\,200$
  • C$38\,900$
  • D$39\,800$

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