Use the Information Below to Answer the Following Questions:
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question 27

Multiple Choice

Use the information below to answer the following questions:
The following information is taken from the accounts of Arc Ltd for the year ended 30 June 2012 .
$\begin{array}{lr} & \$ \\ \text { Inventory, 1 July 2011 } & 90,000 \\ \text { Inventory, 30 June 2012 } & 95,000 \\ \text { Creditors, 1 July } 2011 & 70,000 \\ \text { Creditors, 30 June } 2012 & 60,000 \\ \text { Cash purchases } & 190,000 \\ \text { Cost of goods sold } & 420,000 \\ \text { Discount received from creditors } & 15,000\end{array}$
-What was the value of inventory purchased during the year?

• A) $420 000
• B) $425 000
• C) $430 000
• D) $200 000.

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Definitions:

Death Rates

The number of deaths per unit, usually 1,000 or 100,000, of the population in a specified area or group.

Stable Population

A population size that remains consistently within a small range, indicating a balance between birth rates and death rates.

Canadian Residents

Individuals who legally reside in Canada, including citizens, permanent residents, and certain temporary residents.

Canada-U.S. Border

The international boundary between Canada and the United States, stretching over 5,525 miles, including land and water boundaries.