Margaret's business has the following revenue and purchases figures in 20X8 and 20X9: Her closing inventory at 30 November 20X9 was £13 650 and gross profit margin in both years is 34%.
What was Margaret's opening inventory at 1 December 20X7 (to the nearest £)?

Question

Margaret's business has the following revenue and purchases figures in 20X8 and 20X9:  Her closing inventory at 30 November 20X9 was £13 650 and gross profit margin in both years is 34%.
What was Margaret's opening inventory at 1 December 20X7 (to the nearest £)?

Quizplus · Accepted Answer

The Answer of Margaret's business has the following revenue and purchases figures in 20X8 and 20X9:  Her closing inventory at 30 November 20X9 was £13 650 and gross profit margin in both years is 34%.
What was Margaret's opening inventory at 1 December 20X7 (to the nearest £)?

Margaret's Business Has the Following Revenue and Purchases Figures in 20X8