Association chartered of certified accountant (SBL2020)

 In the year to 30 April 20X8, Tanya paid a total of $127,569 to her suppliers. Her opening and closing balances due to suppliers and her opening and closing inventory values were: 

                       Opening value    Closing value

 Suppliers     $11,564             $12,826 

Inventory      $5,288                $4,184

 What was Tanya's cost of sales for the year to 30 April 20X8?  

Rajesh has not maintained a full set of accounting records during the year ended 31 December 20X8. From his sales invoices he established sales for the year were $360,000. Inventory records for the beginning of the year showed a balance of $21,800 and at the end of the year $24,600.

Rajesh makes sales based on a gross profit mark-up of 20%.

What is Rajesh's purchases figure for the year ended 31 December 20X8?

Kimi's sales invoices were destroyed by a flood in her office. She has not maintained any other sales records but she has inventory records showing opening inventory at 1 April 20X7 of $12,800 and closing inventory at 31 March 20X8 of $13,900. Purchase invoices for the year total $240,000. Kimi makes sales based on a mark-up of 25%.

 What is Kimi's sales figure for the year ended 31 March 20X8?

Ethan has lost his opening inventory records for the year ended 31 August 20X8. Closing inventory records show a balance of $32,000. Sales invoices for the year totaled $460,000 and are made based on a margin of 20%. Total purchases made were $374,000.

What is Ethan's opening inventory at 1 September 20X7?

 Hema opened a hair salon last year. She sells haircare products such as shampoo, conditioner and styling products as well as cutting and styling people's hair. She buys haircare products from the wholesaler and sells them at a mark up of 25%. In the first year of trading, she bought haircare products for $2,100. Her sales in the year were $2,335. 

 What is the value of Hema's closing inventory of haircare products?  

Harminder's shoe business had opening inventory of $2,050 at 1 January 20X5. His closing inventory at 31 December 20X5 was valued at $1,570. Revenue for the year totalled $25,730. Harminder makes a mark up of 25% on cost of all shoes he sells. 

 What was the cost of Harminder's purchases during the year?