Multiple Choice
Shobna sells sewing machines at a retail price of £520, which gives her a gross profit margin of 25%.During her trading year ended 31 March 20X9, she sold 420 machines, and moved to larger premises so that she could carry more inventory.At 31 March 20X9 her closing inventory (50 machines) is 100% higher than her opening inventory. Assuming no change in the cost and selling price structure, what was the value of Shobna's purchases during the year ended 31 March 20X9?
A) £173 550
B) £183 300
C) £154 050
D) £185 120
Correct Answer:
Verified
Correct Answer:
Verified
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