The Following Information Is Available from the Trial Balance of Powerage

question 12

Multiple Choice

The following information is available from the trial balance of Powerage Ltd as at 31 Dec Year 2:
$$\begin{array} { l c c } & \text { Debit } & \text { Credit } \\ &£& £ \\\text { Sales revenue }&& 260,000\\\text { Inventory at 31st Dec Year 1 } & 9,000 \\\text { Purchases } & 29,000 &\end{array}$$
Closing inventory as at 31st Dec year 2 is £6,000.Calculate the cost of goods sold

• A) £38,000
• B) £32,000
• C) £228,000
• D) £44,000

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Definitions:

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