4.1 Oscar’s trading company prepares accounts to 31 December. In the year to 31 December 2012 the following trading transactions occur:

£

Revenue 72 411 Purchases 53 005 Sales returns 361 Purchases returns 1 860 Inventory at 1 January 2012 was £4182, and at 31 December 2012 it was £5099.

What is Oscar’s gross profit for the year?

a) £21 822

b) £18 102

c) £18 824

d) £22 544.