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On the last day of its financial year, Buy-all Limited had the following balances in its general ledger accounts: R Purchases of merchandise 850 000
On the last day of its financial year, Buy-all Limited had the following balances in its general ledger accounts: R Purchases of merchandise 850 000 Freight paid on purchases 47 000 Delivery charges paid on sales 13 000 Opening inventory 120 000 With the periodic system, what will the cost of sales for the year be if the closing value of the inventory was R95 000? Select one: A. R875 000 B. R922 000 C. R935 000 D. R862 000
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