4.1 Oscar’s trading company prepares accounts to 31 December. In the year to 31 December 20X1 the following trading transactions occur:

£

Revenue 72,411 Purchases 53,005 Sales returns 361 Purchases returns 1,860 Inventory at 1 January 20X1 was £4,182, and at 31 December 20X1 it was £5,099. What is Oscar’s gross profit for the year?

a) £21,822

b) £18,102

c) £18,824

d) £22,544