A-LevelAccountingInventory ValuationMay/June 2024Paper 1 Q141 Mark
A trader sells goods at a uniform mark-up of 20%. The following information is available for the year ended 31 December. inventory at 1 January $1780 inventory at 31 December $2100 purchases $23400 carriage inwards $700 carriage outwards $450 goods taken for own use (at selling price) $1800 What was the value of cost of sales for the year ended 31 December?
A$20 880
B$21830
C$22 280
D$22 340
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of inventory valuation within the Accountingsyllabus. The examiner's mark scheme requires...
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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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