O-LevelAccountingAccounting procedures7707/11 · May/June 2017 · Q251 Mark

Abdul does not keep a full set of books but was able to provide the following information. opening inventory 5000 closing inventory 7000 purchases 58 000 Abdul applies a mark-up of 20% to obtain the selling price of goods. What were Abdul's sales for the year?

A$67 200

B$70000

C$72000

D$75000

✓ Correct answer

A: $67 200

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2017 Paper 1 Variant 1, question 25.

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