Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

In the course of the month, a company suffered a burglary and a quantity of inventory was stolen. The table gives the company’s figures for the month: opening inventory, at cost $30000$; purchases $210000$; revenue $330000$; closing inventory, at cost $4000$. A gross profit of $30\%$ on all sales had been made. What was the cost of the inventory lost in the burglary?

  • A$4000$
  • B$5000$
  • C$9000$
  • D$13000$

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