Accounting 0452 · IGCSE · Valuation of inventory

Valuation of inventory — practice question

During the year, Toby bought goods costing $13000. His closing inventory exceeded his opening inventory by $1000. Toby’s gross margin is 20%. What was Toby’s revenue for the year?

  • A$14400
  • B$15000
  • C$16800
  • D$17500

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