A company sells goods with a mark-up of $25\%$. The information below was available at the end of the financial year. Goods in warehouse: $\$300\,000$ (cost) Goods sent on sale or return: $\$200\,000$ (at invoice price) What value should closing inventory have in the financial statements?
- A$\$300\,000$
- B$\$450\,000$
- C$\$460\,000$
- D$\$500\,000$