Suppose Ali started business on 1st. January, 2019. During the year ending 31 December, 2019, he bought a quantity of le

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Suppose Ali started business on 1st. January, 2019. During the year ending 31 December, 2019, he bought a quantity of le

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Suppose Ali started business on 1st. January, 2019. During the year ending 31 December, 2019, he bought a quantity of leather shoes at a uniform cost and sold 5,800 ofthem at $50 each. An inventory check on 31 December, 2019 established he holds 650 unsold pairs. Ali’s gross profit for the year was $116,000. How much was the cost of a pairof shoes?
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