Trickey Limited has total sales for the year ended 31 August 2019 of £500,000. Inventory at 1 September 2018 was £65,000. Purchases of goods during the year amounted to £320,000 and discounts received were £10,000. Gross profit percentage for the year was 40%. What is the value of closing inventory?

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The Answer of Trickey Limited has total sales for the year ended 31 August 2019 of £500,000. Inventory at 1 September 2018 was £65,000. Purchases of goods during the year amounted to £320,000 and discounts received were £10,000. Gross profit percentage for the year was 40%. What is the value of closing inventory?

Trickey Limited Has Total Sales for the Year Ended 31