Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

At the start of the financial year, inventory had a value of $15000$. Over the course of the year, sales amounting to $21000$ and purchases amounting to $18000$ took place. Sadly, every item of inventory was stolen on the final day of the financial year. Goods are marked up by $50\%$ when the selling price is worked out. What is the cost of the stolen inventory?

  • A$7500$
  • B$11000$
  • C$19000$
  • D$22500$

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