O-LevelAccountingAnalysis and interpretation7707/12 · May/June 2022 · Q271 Mark

A business provided the following information. $ opening inventory 6800 closing inventory 6000 rate of inventory turnover 5 times What were the purchases for the year?

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A$29 200

B$31 200

C$32.000

D$32800

✓ Correct answer

B: $31 200

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Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2022 Paper 1 Variant 2, question 27.

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