Answer Happy

E12 - 4 Ms Freyja Katrigah is the owner of a garden supplies shop in the Killarney Mall, trading as Green Fingers. The financial year ends on 31 March. The goods in which she deals are normally marked up by 33.3% on cost. Freyja found it inconvenient to count inventory on 31 March 20X6, and she therefore counted after the close of business on 10 April 20X6. Inventory, according to the count sheets, amounted to C12 620. Purchases from 1 to 10 April 20X6 amounted to C820. of which goods costing C63 had been returned on 8 April 20X6. and goods costing C88 had been returned on 13 April 20X6. Sales from 1 to 10 April 20X6 totalled C8 140. On 3 and 4 April 20x6 a special autumn sale was held, during which normal marked prices were reduced by 15% Sales amounted to C1020 You are required to: Calculate the cost of inventory to include in the statement of financial position at 31 March 20X6.