Edexcel IGCSEAccountingGeneral Applications1 Mark

At the start of the year, a business had inventory valued at $3 500. During the year, purchases totalled $15 000 and sales totalled $20 000. The mark-up was 25%. What was the value of the closing inventory? A $2 500 B $3 500 C $4 500 D $5 000

A$2 500

B$3 500

C$4 500

D$5 000

✓ Correct answer

A: $2 500

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Topic: General Applications, Edexcel IGCSE Accounting. Multiple choice, 1 mark.

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