Baljit's Sole Trader Business Has Recorded Revenue in the Year

Multiple Choice

Baljit's sole trader business has recorded revenue in the year ended 31 December 20X6 of £421 000.Opening inventory was £51 400 and Baljit purchased goods for resale during the year at a value of £332 470.Baljit's gross profit margin was constant throughout the year at 27.2%. What was the value of Baljit's closing inventory at 31 December 20X6?

A) £77 382
B) £25 418
C) £63 112
D) £39 032