At the End of the Year,NewBiscuit Company Has Inventory in Hand

question 15

Multiple Choice

At the end of the year,NewBiscuit company has inventory in hand at a selling price of £10,500.What was the cost of inventory assuming inventory is sold at a margin of 50%?

• A) £5,250
• B) £8,000
• C) £3,000
• D) £7,000

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Definitions:

Comprehend

To grasp mentally; understand.

Down Syndrome

A condition caused by an extra chromosome on the 21st pair and characterized by mental deficiency, a broad face, and slanting eyes.

Extra Chromosome

An atypical condition where an individual has more than the usual number of chromosomes, leading to genetic disorders such as Down syndrome.

Chromosomes

Structures located within the cell nucleus, composed of tightly coiled DNA and proteins, that carry genetic information crucial for inheritance, cell division, and individual development.