Accounting 0452 · IGCSE · Calculation and understanding of accounting ratios

Calculation and understanding of accounting ratios — practice question

A business gave the following figures: opening inventory $6800; closing inventory $6000; inventory turnover rate $5$ times. What were the purchases during the year?

  • A$29\,200
  • B$31\,200
  • C$32\,000
  • D$32\,800

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