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A trader who commenced business on 1 january year 9 reports

Question - A trader who commenced business on 1 January Year 9 reports the purchases and sales revenue for the year to 31 December Year 9 as £456,800 and £479,500 respectively. The gross profit was 20% of sales. What is the closing inventories figure?

A. £68,660

B. £73,200

C. £95,900

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Accounting Basics: A trader who commenced business on 1 january year 9 reports

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Accounting Basics: A trader who commenced business on 1 january year 9 reports

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