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:

Organic Molecules

Molecules that contain carbon and are typically found in living systems, including carbohydrates, proteins, lipids, and nucleic acids.

Miller

A term often associated with the Miller-Urey experiment, which simulated early Earth conditions and demonstrated that organic compounds could be formed from inorganic substances.

Herbaceous Plants

Plants that do not have woody stems and typically die back to the ground level at the end of the growing season.

Woody Plants

Plants that produce wood as their structural tissue and typically have perennial growth.