CIMA Exam CIMAPRA17-BA3-1 Topic 1 Question 105 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam

Question #: 105
Topic #: 1

Entity HJ is a small business. In the period. Entity Hj earned revenue of 24,300, had opening inventories of 1,500 and closing inventories of 8,000. Purchases came to 13,200.

What was Entity Hj's gross profit or loss for this period?

A17,600 profit

B6,700 loss

C17,600 loss

D6,700 profit

E31,000 profit

Show Suggested Answer

Suggested Answer: B

by Olive at Jan 11, 2025, 12:59 PM

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Virgie

1 hours ago

Hmm, okay, I need to review my inventory and cost of goods sold formulas here. Gross profit is revenue minus cost of goods sold, and cost of goods sold is beginning inventory plus purchases minus ending inventory. I'll work this out step-by-step and double-check my answer.

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Kristal

5 days ago

This looks like a straightforward accounting question. Let me think this through - revenue of 24,300, opening inventory of 1,500, closing inventory of 8,000, and purchases of 13,200. I'm going to go with option A, 17,600 profit.

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