A sole trader operates his business from a warehouse, which has been damaged by a fire, which occurred at the end of the financial year. After the fire, the remaining inventory that is undamaged amounts to GHC 2,000 (cost). The accountant establishes the following information: Inventory at the beginning of the year was GHC 16,000 II Purchases during the year were GHC 115,000 III Sales during the year were GHC 140,000 IV The trader sells his goods at a mark-up of 25% of cost How much did the trader incurred as cost of sales? A. GHC 131000 B. GHC 143.750 C GHC 105.000 D. GHC 112.000 Res Selection