Alpha Ltd has a gross profit margin of 40%. At the start and end of the year, stock was valued at £17,000 and £20,000. During the year Alpha Ltd made cash purchases of £15,000 and credit purchases of £50,000. What was the value of sales for the year? a) £62,000 b) £103,333 c) £99,200 d) £161,200

Alpha Ltd has a gross profit margin of 40%. At the start and end of the year, stock was valued at £17,000 and £20,000. During the year Alpha Ltd made cash purchases of £15,000 and credit purchases of £50,000. What was the value of sales for the year? a) £62,000 b) £103,333 c) £99,200 d) £161,200

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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Question

a) £62,000

b) £103,333

c) £99,200

d) £161,200

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