Tarmac Co made sales of $1,930,200 during the year ended 31st March X3. Inventory decreased by $132,000 over the year and all sales were made at a mark-up of 45%. What was the cost of purchases during the year, to the nearest $100?
Tarmac Co made sales of $1,930,200 during the year ended 31st March X3. Inventory decreased by $132,000 over the year and all sales were made at a mark-up of 45%. What was the cost of purchases during the year, to the nearest $100?
Chapter10: Inventory
Section: Chapter Questions
Problem 15EB: Tanke Company reported net income on the year-end financial statements of $850,200. However, errors...
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Tarmac Co made sales of $1,930,200 during the year ended 31st March X3.
Inventory decreased by $132,000 over the year and all sales were made at
a mark-up of 45%.
What was the cost of purchases during the year, to the nearest $100?
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