Accounting 0452 · IGCSE · Valuation of inventory

Valuation of inventory — practice question

A business supplied the following figures: inventory at the start of the year $6800; inventory at the end of the year $6000; rate of inventory turnover 5 times. What were the purchases for the year?

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

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