A-LevelAccountingAnalysis and communication of accounting information9706/12 · May/June 2012 · Q201 Mark

A business turns over its inventory 5 times a year. Average inventory is $54 000 and sales are made at a mark-up of one-third. How much are the sales?

A$202 500

B$270 000

C$360 000

D$405 000

✓ Correct answer

C: $360 000

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Topic: Analysis and communication of accounting information, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, May/June 2012 Paper 1 Variant 2, question 20.

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