Accounting 0452 · IGCSE · Valuation of inventory

Valuation of inventory — practice question

Toby spent $13000$ on purchases during the year. His closing inventory was $1000$ greater than his opening inventory. Toby’s gross margin is $20\%$. Find Toby’s revenue for the year.

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

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