Question: A sole trader fixes her prices by adding 50% to the cost of all goods purchased. On 31st October 2019, a fire destroyed a considerable
A sole trader fixes her prices by adding 50% to the cost of all goods purchased. On 31st October 2019, a fire destroyed a considerable part of the inventory and all inventory records. Her trading account for the year ended 31 October 2019 included the following figures: GH GH Sales 281,250 Opening inventory at cost 183,600 Purchases 249,200 432,800 Closing inventory at cost (204,600) (228,200) Gross profit 53,050 Using this information, what inventory loss has occurred? Select one: O a GH48,400 O b. GH22.000 O c GH45,040 va
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