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What will the cost of sales for the year be

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Reference no: EM133172199

Question - On the last day of its financial year, Buy-all Limited had the following balances in its general ledger accounts:

R

Purchases of merchandise 850,000

Freight paid on purchases 47,000

Delivery charges paid on sales 13,000

Opening inventory 120,000

With the periodic system, what will the cost of sales for the year be if the closing value of the inventory was R95,000?

A. R875,000

B. R922,000

C. R935,000

D. R862,000

Reference no: EM133172199

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