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Palo (Pty) Ltd uses a periodic inventory system. On 1 February 2022, the Merchandise Inventory Account of Palo (Pty) Ltd reflected a balance of R30

Palo (Pty) Ltd uses a periodic inventory system. On 1 February 2022, the Merchandise Inventory Account of Palo (Pty) Ltd reflected a balance of R30 000. During February 2022, the company had total sales and the total purchases amounting to R130 800 and R115 000, respectively. The company applies a 20% mark-up on cost. What is the value of closing inventory on 28 February 2022? O A. R23 000 O B. R45 800 O C. R36 000 O D. R34 600

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