20.13 A sole trader who does not keep full accounting records wishes to calculate her sales revenue for the year.The information available is:Opening inventoryClosing inventory$17,000$24,000$91,000123Purchases4Standard gross profit percentage on sales revenue40%Which of the following is the sales figure for the year calculated from these figures?

We have the following information: Opening Inventory: $17,000 Closing Inventory: $24,000 Purchases:…

A sole trader who does not keep full accounting records wishes to calculate her sales revenue for the year. The information available is: $17,000 $24,000 $91,000 1 Opening inventory Closing inventory 2 Purchases 4 Standard gross profit percentage on sales revenue 40% Which of the following is the sales figure for the year calculated from these figures?

A sole trader who does not keep full accounting records wishes to calculate her sales revenue for the year. The information available is: $17,000 $24,000 $91,000 1 Opening inventory Closing inventory 2 Purchases 4 Standard gross profit percentage on sales revenue 40% Which of the following is the sales figure for the year calculated from these figures?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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