Use the information below to answer question
Beginning inventory............N?
Purchases......................N?
Ending inventory...............N4,800
Sales..........................N12,800
Wages..........................N1,040
Gross profit...................N5,900
The beginning inventory was estimated at 80% of sales.
Determine the amount for the beginning inventory?
N20,140
N10,240
N8,140
N7,240
Correct answer is B
No explanation has been provided for this answer.