Yui Sum Ltd commenced business on 1 January Year 9. During the year ending on 31 December Year 9, they bought a quantity of leather briefcases at a uniform cost and sold 5,800 of them at £60 each. An inventories check on 31 December Year 9 established that they hold 650 unsold briefcases. The gross profit for the year was £116,000. How much was the cost of each briefcase? OA. £17.85 OB. £40.00 OC. £35.69 O D. £20.00

Yui Sum Ltd commenced business on 1 January Year 9. During the year ending on 31 December Year 9, they bought a quantity of leather briefcases at a uniform cost and sold 5,800 of them at £60 each. An inventories check on 31 December Year 9 established that they hold 650 unsold briefcases. The gross profit for the year was £116,000. How much was the cost of each briefcase? OA. £17.85 OB. £40.00 OC. £35.69 O D. £20.00

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6EA: Logo Gear purchased $2,250 worth of merchandise during the month, and its monthly income statement...

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K Agnes Ltd commenced business on 1 January Year 9. During the year ending on 31 December Year 9, they bought a quantity of leather briefcases at a uniform cost and sold 6,000 of them at £50 each. An inventories check on 31 December Year 9 established that they hold 650 unsold briefcases. The gross profit for the year was £114,000. How much was the cost of each briefcase? OA. £27.97 B. £17.14 OC. £31.00 O D. £19.00
Yui Sum Ltd commenced business on 1 January Year 9. During the year ending on 31 December Year 9, they bought a quantity of leather briefcases at a uniform cost and sold 6,000 of them at £50 each. An inventories check on 31 December Year 9 established that they hold 650 unsold briefcases. The gross profit for the year was £114,000. How much was the cost of each briefcase? OA. £17.01 B. £31.00 C. £27.76 D. £19.00
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