The following information is available for the year ended 31 December 20X4 for a keep proper accounting records： Inventories at 1 January 20X4 Inventories at 31 December 20X4 Purchases Gross profit percentage on sales = 30% Based on this information, what was the trader's sales figure for the year?
A、$900,000
B、$819,000
C、$920,000
D、$837,200
A、$900,000
B、$819,000
C、$920,000
D、$837,200
【参考答案及解析】
$ Cost of sales Opening inventory 38,000 Purchases 637.000 Less: closing inventory (45,000) Sales 630,000 x 100/70 = $900,000 630.000
$ Cost of sales Opening inventory 38,000 Purchases 637.000 Less: closing inventory (45,000) Sales 630,000 x 100/70 = $900,000 630.000