Senji plc applies a mark-up of 40%. At the start and end of the year, stock was valued at £25,000 and £22,000 respectively. During the year cash purchases were £15,000 and credit purchases of £90,000. What was the value of sales for the year? a) £151,200 b) £142,800 c) £170,000 d) £180,000

Senji plc applies a mark-up of 40%. At the start and end of the year, stock was valued at £25,000 and £22,000 respectively. During the year cash purchases were £15,000 and credit purchases of £90,000. What was the value of sales for the year? a) £151,200 b) £142,800 c) £170,000 d) £180,000

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

Senji plc applies a mark-up of 40%. At the start and end of the year, stock
was valued at £25,000 and £22,000 respectively. During the year cash purchases were £15,000 and credit purchases of £90,000. What was the value of sales for the year?

a) £151,200
b) £142,800
c) £170,000
d) £180,000

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