- Messages
- 553
- Reaction score
- 1,080
- Points
- 73
Q12 - Like i said i cant seem to get the right words to explain this, but here goes..View attachment 40123
may/june 2009 paper 3 > how to do this :/
And this ??? please help ....
View attachment 40124
Notice that in this question there is no opening stock.
So the purchased quantity should be equal to Sale quantity + C/Stock quantity (Agree on tht before you go ahead, else stop and ask)
Following this principle, the cost of purchasing, which is 450000 would be 550000 (Sales + C/Stock) with the profit.
Therefore the markup would be 550000-450000=100000
Use this to find the markup % = 100000/450000*100 = 22.22%
Now that you have the markup, find the cost price of the stock. Which would be = 50000/122.22 * 100 = 40909.83
Now all the hard work is done. Simply use the normal formula to find the GP now. i.e. Sales - COS
Then itll be like: 500000 - (450000-40909.83) = $90909 Hence C
Phew.