A-LevelAccountingInventory ValuationMay/June 2022Paper 1 Q201 Mark
The following information is available for a business. sales revenue $500 000 purchases $365 000 gross margin 25% mark-up 33% inventory at start of the period $20 000 What was the value of closing inventory?
A$10000
B$20000
C$30000
D$50000
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of inventory valuation within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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