Cost of goods sold

Hi,

I have the following question in a practise assessment,

At the end of the financial year, you have the following information:
Total sales £45000
Total purchases £40000
A mark up of 25% on cost was used though out the year.

Calculate the cost of goods sold and the value of inventory at the end of the financial year.

Can someone help with this please as i seem to be having a mental block.

Thanks

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