david nix

meibaker

having problems once again with my closing stock, 61,361, is it right?

Sally

If its the Pract Exam in the Osborne Book - the closing stock figure was 6120.

meibaker

got it complete wrong, what's the gross profit figure? 93,800x33%=30954 ? if so, the close stock is 5874, where did i go wrong?

Richard

meibaker wrote: »

got it complete wrong, what's the gross profit figure? 93,800x33%=30954 ? if so, the close stock is 5874, where did i go wrong?

Your sales figure should be £93,900, of which the gross profit is one third. You need to be careful when calculating this as 33% isn't an exact third. Instead, divide £93,900 by 3 this will give a gross profit of 31,300.

meibaker

Richard wrote: »

Your sales figure should be £93,900, of which the gross profit is one third. You need to be careful when calculating this as 33% isn't an exact third. Instead, divide £93,900 by 3 this will give a gross profit of 31,300.

oh no, that's prob why my figure is wrong then? thanks richard