Question: Ngula (Pty) Ltd uses a periodic inventory system. On 1 February 2022, the Merchandise Inventory Account of Ngula (Pty) Ltd reflected a balance of

Ngula (Pty) Ltd uses a periodic inventory system. On 1 February 2022, the Merchandise Inventory Account of Ngula (Pty) Ltd reflected a balance of R30 000. During February 2022, the company had total sales and the total purchases amounting to R128 750 and R112 000, respectively. The company applies a 25% mark-up on cost. What is the value of closing inventory on 28 February 2022? Select one: O A. R45 800 B. R39 000 C. R28 400 D. R13 250

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