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freddie has not kept full accounting records during the current financial year. He had opening inventory of $15,000 and purchased goods for resale costing $82,000 during the year. At the year end he had $12,000 of these goods left in inventory.
goods are sold at a mark-up on cost of 25%.
sir the missing figure is the sales revenue, is it correct that the sales revenue for the year is $106,250? this is my answer..
I have asked you several times before, but you still have not answered – why on earth are you attempting questions for which you do not have the answer? It is stupid and you are not going to pass the exam this way – you must buy a Revision kit from one of the ACCA approved publishers.
(Your answer is correct, but I am not prepared to answer any more test questions unless you tell me you have watched our free lectures, and unless you use a proper revision kit)
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