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.
Can somebody pls help me with this question. Thanks.
cost of sale=193200/1.42=136056
opening inv +purchase cost=closing inv+sales cost
purchase cost=closing inv -opening inv+sales cost
now approx to nearest 1000,
122856 would come to 123,000. ans
hi, i view your answer 123,000 why not 149,000?
mine 13,200 + 136,056 = 149,256
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