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What is the closing inventories figure for the year

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Question - A business begins the year with opening inventories of £14,560. During the year it purchases goods for £73,820 and sells goods for £89,630. The business makes a uniform gross profit of 20% on sales. What is the closing inventories figure for the year?

A. £?2,116

B. £?16,676

C. £?19,176

D. £?12,444

Reference no: EM133018671

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