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question 27

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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 .
$ Inventory, 1 July 2011 90,000 Inventory, 30 June 2012 95,000 Creditors, 1 July 201170,000 Creditors, 30 June 201260,000 Cash purchases 190,000 Cost of goods sold 420,000 Discount received from creditors 15,000 \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?


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