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John commenced business on 1 January Year 9. During the year ending on 31 December Year9,he bought a quantity of leather briefcases at a uniform
John commenced business on 1 January Year 9. During the year ending on 31 December Year9,he bought a quantity of leather briefcases at a uniform cost and sold5,800of them at
pound
50
each. An inventories check on 31 December Year 9 established that he holds 650 unsold briefcases.John'sgross profit for the year was
pound
116,000.
How much was the cost of eachbriefcase?
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