Multiple Choice
Marwan Limited has total sales for the year ended 31 October 2019 of £1,050,000 before taking into account sales returns of £50,000. Inventory at 1 November 2018 was £45,000 while inventory at 31 October 2019 was £60,000. Purchases of goods during the year amounted to £635,000. What is Marwan Limited's gross profit % for the year ended 31 October 2019?
A) 35.00%
B) 38.00%
C) 40.95%
D) 45.71%
Correct Answer:
Verified
Correct Answer:
Verified
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