Multiple Choice
A business has the following items extracted from its accounting records. Sales £75,000, opening inventory £5,000, closing inventory £7,500. The business applies a constant mark up of 25%. The total purchases for the year are?
A) £57,500
B) £72,500
C) £58,750
D) £62,500
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q6: Calculate the value of purchases from the
Q7: An entity sells goods earning a constant
Q8: The net assets of Stuart Ltd. at
Q9: B. Little owed his suppliers £95,000 at
Q10: The net book value of a company's
Q11: A business has the following cash and
Q12: Anna is not wealthy. Her retail business
Q14: The telephone account for the year ended
Q15: A business achieves a margin of 25%
Q16: Opening inventory is £29,000, closing inventory is