Westonci.ca makes finding answers easy, with a community of experts ready to provide you with the information you seek. Get the answers you need quickly and accurately from a dedicated community of experts on our Q&A platform. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

Question
A business operates based on a mark-up on cost of 40%. If opening inventory was GHC 5,000, sales were
GHC 98,000 and purchases were GHC 71,200, calculate the value of closing inventory.
A. GHC 70,000
B. GHC 68,600
C. GHC 29,400
D. GHC 6,200