On 1 January 2022 a sole trader’s inventory was valued at $\$ 4500$.
On 14 April 2022 there was a fire in his business premises.
Up to 14 April 2022 his sales were $\$ 24600$ and his purchases were $\$ 16700$.
He worked on a mark-up of $33\frac{1}{3}\% $.
Goods which had cost $\$ 1485$ were saved from the fire. This included some goods which had cost
$\$ 800$ but as a result of the fire damage can now only be sold for $\$ 650$.
What was the total inventory loss for the business?
1 )
$\$ 1115$
2 )
$\$ 1265$
$\$ 1415$
4 )
$\$ 2750$
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