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    ramonacraciun
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    Silver Co made sales of 193,200 during the year ended 31 August. Inventory decreased by 13,200 over the year and all sales were made at a mark up of 42%.
    What was the cost of purchases during the year , to the nearest 1,000.
    A-149,000
    B-136,000
    C-123,000
    D-109,000

    Can somebody pls help me with this question. Thanks.


    Avatar of Vipin
    Vipin
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    mark up=42%
    cost of sale=193200/1.42=136056

    opening inv +purchase cost=closing inv+sales cost
    purchase cost=closing inv -opening inv+sales cost
    =-13200+136056=122,856

    now approx to nearest 1000,
    122856 would come to 123,000. ans


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    riha
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    hi, i view your answer 123,000 why not 149,000?
    mine 13,200 + 136,056 = 149,256

    tks

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