working out mark up on cost
JJY
Registered Posts: 5 Regular contributor ⭐
I have an accounts for sole traders and partnerships exam soon and I'm really stuck on one question
it asks ": Calculate the COGS for year ended xxx
total sales where 66,000
total purchases where 59,120
a mark up of 20% on cost was used throughout the year
i dont understand the formula for this
it then asks calculate the value of the inventory for the year as at xxx
again i don't know how to work that out either
any help would be much appreciated
it asks ": Calculate the COGS for year ended xxx
total sales where 66,000
total purchases where 59,120
a mark up of 20% on cost was used throughout the year
i dont understand the formula for this
it then asks calculate the value of the inventory for the year as at xxx
again i don't know how to work that out either
any help would be much appreciated
0
Comments

actually ignore this I've just answered my own question ha !0
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