Dargent Trading applies a markup of 40%. At the start and end of the year, inventory was valued at £25,000 and £22,000 respectively. During the year cash purchases were £15,000 and credit purchases of £90,000. What was the value of sales for the year? a) £151,200 b) £142,800 c) £180,000 d) £170,000
Dargent Trading applies a markup of 40%. At the start and end of the year, inventory was valued at £25,000 and £22,000 respectively. During the year cash purchases were £15,000 and credit purchases of £90,000. What was the value of sales for the year? a) £151,200 b) £142,800 c) £180,000 d) £170,000
Chapter2: Analysis Of Financial Statements
Section: Chapter Questions
Problem 12PROB
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Dargent Trading applies a markup of 40%. At the start and end of the year, inventory was
valued at £25,000 and £22,000 respectively. During the year cash purchases were £15,000
and credit purchases of £90,000. What was the value of sales for the year?
a) £151,200
b) £142,800
c) £180,000
d) £170,000
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