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What the closing inventory should be

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Reference no: EM132916828

Cornucopia plc has a standard mark-up of 25% on cost. During 20X9, its sales were £125,000 and its purchases were £80,000. Opening inventory was £35,000. The company did not carry out an inventory count at 31.12.20X9 and has no records of an inventory figure at that date.

Problem 1: Using the information above the closing inventory should be:

A) £15,000

B) £21,250

C) £48,750

D) £55,000

Reference no: EM132916828

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