Answered: A business operates based on a mark-up…

A business operates based on a mark-up on cost of 40%. If opening and closing inventories were GH₵ 3,100 and GH₵ 4,000 respectively while purchases were GH₵ 42,100, what was the value for sales

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A business operates based on a mark-up on cost of 40%. If opening and closing inventories were GH₵ 3,100 and GH₵ 4,000 respectively while purchases were GH₵ 42,100, what was the value for sales?

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