- Messages
- 48
- Reaction score
- 5
- Points
- 8
The examiner said that
selling price is calculate by adding 40% profit on cost of the product this means that
Sales = Cost + Profit
140% = 100% + 40%
For eg
Aug sales are 87400
It is stated that they are purchased two months before sale and paid one month after purchase ( or 1 month before sale)
so 87400= 140%
and cost is 100%
87400 x 100/140
62428.5
62429 these are the creditors to be paid in july
Thank you!!