What is the figure for purchases?

To find the figure for purchases, we need to use the formula: Beginning Inventory + Purchases - Ending Inventory = Cost of Goods Sold We are given the following information: Beginning Inventory = 80% of Sales Ending Inventory = ₦4,800 Sales = ₦12,800 Cost of Goods Sold = Sales - Gross Profit We are not given the figure for Gross Profit, but we can calculate it using the given information: Gross Profit = Sales - Cost of Goods Sold Gross Profit = Sales - (Beginning Inventory + Purchases - Ending Inventory) Gross Profit = ₦12,800 - (80% of Sales + Purchases - ₦4,800) Gross Profit = ₦12,800 - (0.8 x ₦12,800 + Purchases - ₦4,800) Gross Profit = ₦12,800 - (₦10,240 + Purchases - ₦4,800) Gross Profit = ₦7,360 - Purchases We are also given that the Gross Profit is ₦5,900, so we can substitute this value and solve for Purchases: ₦5,900 = ₦7,360 - Purchases Purchases = ₦7,360 - ₦5,900 Purchases = ₦1,460 Therefore, the figure for purchases is ₦1,460. The correct option is not among the options given.