Multiple Choice
Trickey Limited has total sales for the year ended 31 August 2019 of £500,000. Inventory at 1 September 2018 was £65,000. Purchases of goods during the year amounted to £320,000 and discounts received were £10,000. Gross profit percentage for the year was 40%. What is the value of closing inventory?
A) £55,000
B) £75,000
C) £85,000
D) £95,000
Correct Answer:
Verified
Correct Answer:
Verified
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