Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

How are purchases worked out when proper accounting records have not been maintained?

  • Asales \times $(1 - \text{margin})$ - closing inventory + opening inventory
  • Bsales \times $(1 - \text{margin})$ + closing inventory - opening inventory
  • Csales \times $(1 - \text{mark-up})$ - closing inventory + opening inventory
  • Dsales \times $(1 - \text{mark-up})$ + closing inventory - opening inventory

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