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Hi,

I'm revising my syllabus because exam in June. Can someone will help me for this.


In the year ended 31 Dec 2008 BB made a GP of $72,000 on sales of $200,000.
In the following year its sales increased by 20% and its gross profit percentage decreased by 3%.

Purchases for 2009 totalled $170,000, a 25% increase on the previous year, and inventory at 31 Dec 2009 was valued at $51,000.

Based on these figures, what was the inventory figure at 31 Dec 2009.

Either you have mistyped something or I have over looked something simplistic, but…

Quote:

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Originally Posted by masud

and inventory at 31 Dec 2009 was valued at $51,000.

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So you are saying Ending Inventory at Dec. 31/09 is $51,000

Quote:

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Originally Posted by masud

Based on these figures, what was the inventory figure at 31 Dec 2009.

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See my comment above. Ending inventory Dec. 31/09 is $51,000

Quote:

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Originally Posted by CaptainForest

Either you have mistyped something or I have over looked something simplistic, but…



So you are saying Ending Inventory at Dec. 31/09 is $51,000




See my comment above. Ending inventory Dec. 31/09 is $51,000

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The question is as same as I quoted. I tell you the answer that is $41800, don't know how?

Quote:

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Originally Posted by masud

The question is as same as i quoted. I tell you the answer that is $41800, don't know how?

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Sorry the requirement was "Based on these figures, what was the inventory figure at 31 Dec 2008"