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FP, urgent advice required-exam tomorrow

ingainga Just JoinedRegistered Posts: 3
in AAT Level 4 (Level 8 in Scotland)
Can someone please help me to deal with this task from FP mock exam. My actual exam is tomorrow :(

Sales are given for the years:
2006 £175000
2007 £193025
2008 £211225
2009 £229250
2010 £247100

An index of price level movements is as follows:
Year Price level index
2006 100
2007 103
2008 107
2009 110
2010 112
2011 (forecast) 113

Assume that now is the end of 2010
Required: Restate the industry sales figures for each of the above five years (2006-2010) to 2011 forecast price levels using the appropriate price level index.

Year Sales Factor £
2006
2007
2008
2009
2010

Comments

  • CeeJaySixCeeJaySix Well-Known Registered Posts: 645
    I haven't studied the unit yet so this is just an educated guess, but it looks like the normal use of indices; so to project for 2011 it would be original figure / original index x 2011 index.

    eg. 2007:

    193,025 / 103 x 113 = 211,765.28

    Is that the right answer?
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