Mathematics · Accounting Aptitude
Jay's annual inventory count took place on 7 July 20X6. The inventory value on this date was $38,950. During the period from 30 June 20X6 to 7 July 20X6, the following transactions took place: Sales: $6,500 Purchases: $4,250 The markup is 25% on cost. What is Jay's inventory valuation at 30 June 20X6?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1$41,200
- 2$36,700
- 3$37,900
- 4$39,900✓
Correct answer
$39,900
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