Accounting 0452 · IGCSE · Clubs and societies

Clubs and societies — practice question

A golf club provides refreshments for its members. Amounts owing to suppliers for refreshments were $250$ on 1 January 2022 and $400$ on 31 December 2022. The payments made to suppliers in the year totalled $7200$. Closing inventory was $100$ below opening inventory. What was the cost of sales of refreshments for the year ended 31 December 2022?

  • A$7050$
  • B$7150$
  • C$7300$
  • D$7450$

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