Accounting 0452 · IGCSE · Sole traders

Sole traders — practice question

In Roshan’s first year of trading, his sales amounted to $55000$. His gross profit margin was $20\%$. The closing inventory stood at $3200$. What were the purchases for the year?

  • A$41250$
  • B$44000$
  • C$44450$
  • D$47200$

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