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IGCSE Accounting 0452

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Guys i need help with one of the past paper.. it is Oct/Nov 2010 paper 22
in question number 1, there is an additional information
the first one it says "Because of an oversight the inventory (stock) on 30 September 2010 was not valued. Robbie marks up all his stock by 25%"

i wanted to know how the closing inventory has been calculated.. im not getting it.. please help
 
Messages
2,824
Reaction score
3,730
Points
273
Guys i need help with one of the past paper.. it is Oct/Nov 2010 paper 22
in question number 1, there is an additional information
the first one it says "Because of an oversight the inventory (stock) on 30 September 2010 was not valued. Robbie marks up all his stock by 25%"

i wanted to know how the closing inventory has been calculated.. im not getting it.. please help

U first use the markup to calculate the Cost Of Sales : Sales=216000=125%
Cost price=? =100% Cross multiply to get cost of sales which is 172800... From here you can go backwards to find closing inventory...19500+174100-x=172800.... Hope u get it :)
 
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How do u calculate list price ?!

Can anyone help me wid this :

Bought goods on credit from Ramy El Din, list price $680, subject to a trade discount of 20%
Returned goods, list price $120, to Ramy El Din
 
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