Q1.14 2.5 Points Cornucopia pic has a standard mark-up of 25% on cost. During 20X9, its sales were 125,000 and its purchases were 80,000. Opening inventory was 35,000. The company did not carry out an inventory count at 31.12.X9 and has no records of an inventory figure at that date. Using the information above the closing inventory value should be: 15,000 21,250 O 48,750 O 55,000