Accounting 0452 · IGCSE · Valuation of inventory

Valuation of inventory — practice question

In Roshan’s first year of trading, sales amounted to $55000$. His gross profit margin was $20\%$. Closing inventory was $3200$. Calculate the purchases for the year.

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

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