Accounting 0452 · IGCSE · Valuation of inventory

Valuation of inventory — practice question

A business applies a 20% mark up when setting its selling prices. Over the year, it recorded purchases of \$3500, and its inventory fell from \$7000 to \$2000. What was the revenue for the year?

  • A\$3600
  • B\$4000
  • C\$4200
  • D\$4800

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