During the Year Ended 28 February 20X4, Biddy Sells 14

Multiple Choice

During the year ended 28 February 20X4, Biddy sells 14 072 units of inventory at £31.25 each.Her gross profit on each unit of inventory is £9.25.She purchased inventory to the value of £335 940 between 1 March 20X3 and 28 February 20X4.At 28 February 20X4 she has 2040 units in inventory.There have been no changes to cost or selling prices during the two-year period to 28 February 20X4. What was the value of Biddy's opening inventory at 1 March 20X3?

A) £71 236.00
B) £7788.50
C) £18 524.00
D) £26 356.00