Practice Exam 1 [ aka CBT 1] for APII question 1.2 Query
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James AAT
Registered Posts: 7 Regular contributor ⭐
Dear Community !
This is making me paranoid, can someone just clear this up for me. I suspect a mistake on the answer sheet.
If gross sales margin is 35%. The sales figure was 27100, then surely the cost of sales is just:
27100/1.35 = 20074.07 ( the answer according to the answer sheet is 17615)
Clearly I have not thought this through right ?
Any input much appreciated , even if it is to tell me to read my book again !
Thanks James
This is making me paranoid, can someone just clear this up for me. I suspect a mistake on the answer sheet.
If gross sales margin is 35%. The sales figure was 27100, then surely the cost of sales is just:
27100/1.35 = 20074.07 ( the answer according to the answer sheet is 17615)
Clearly I have not thought this through right ?
Any input much appreciated , even if it is to tell me to read my book again !
Thanks James
0
Comments
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Dear Community !
This is making me paranoid, can someone just clear this up for me. I suspect a mistake on the answer sheet.
If gross sales margin is 35%. The sales figure was 27100, then surely the cost of sales is just:
27100/1.35 = 20074.07 ( the answer according to the answer sheet is 17615)
Clearly I have not thought this through right ?
Any input much appreciated , even if it is to tell me to read my book again !
Thanks James
Hi James,
It's asking for the cost of sale.
100% = Sales value
35% = Margin
Therfore the difference between these 2 is the Cost of Sale which is 65%.
27100 x 65% = 17615.
Hope this helps?0 -
I am stupid after all ! Sometimes you just need to ask someone.
Sigh !
Thanks Cudey0 -
Many Thanks0
