Catt sells goods at a margin of 50%. During the year to 31 March 20X3 the business made purchases totalling $134,025 and sales totalling $240,000. Inventories in hand at 31 March 20X3, valued at cost, was $11,385 higher than the corresponding figure at 1 April 20X2. What was the cost of the goods Catt had drawn out?

Catt sells goods at a margin of 50%. During the year to 31 March 20X3 the business made purchases totalling $134,025 and sales totalling $240,000. Inventories in hand at 31 March 20X3, valued at cost, was $11,385 higher than the corresponding figure at 1 April 20X2. What was the cost of the goods Catt had drawn out?

Name: 4 Catt sells goods at a margin of 50%. During the year to 31 March 20
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Description: 4 Catt sells goods at a margin of 50%. During the year to 31 March 20X3 the business made purchasestotalling $134,025 and sales totalling $240,000. Inventories in hand at 31 March 20X3, valued atcost, was $11,385 higher than the corresponding figure

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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