What was the cost of purchases during the year

Assignment Help Accounting Basics

Reference no: EM133357700

Opening Inventory + Purchases - Closing Inventory = Cost of Sales (CoS)

Mark up cost structure example with example of Margin cost structure

Sales 125% Sales 100%

CoS (100%) CoS (75%)

Gross profit 25% Gross profit 25%

Gbholan Co made sales of $1,930,200 during the year ended 31st March X4. Inventory decreased by $132,000 over the year and all sales were made at a mark-up of 25%. What was the cost of purchases during the year, to the nearest $100?

Reference no: EM133357700

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