2 The following information is available for the year ended 31 December 2004 for a trader who does not keep proper accounting records:                                                              $ Inventories at 1 January 2004          38,000 Inventories at 31 December 2004    45,000 Purchases                                        637,000 Gross profit percentage on sales        30%  Based on this information, what was the trader’s sales figure for the year? A  $900,000 B  $819,000 C  $920,000 D  $837,200
 A 38,000 + 637,000 – 45,000 = 630,000 x 10/7 = 900,000  |