Business Studies / Business Math / Semester 2, 2020/2021 / BUSINESS MATH MCost of an item is OMR 335, If the markup is 28% on the cost, find the selling price;edO a. OMR 93.8rked out of1.00O b. OMR 126O. OMR 241.2Next page2g questionO d. OMR 429Course Orientation Business MathJump to...TOSHIBA

Selling price can be calculated by adding profit to the cost price.

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hes Cost of an item is OMR O a. OMR 93.8 O b. OMR 126 OC OMR 241.2 Od. OMR 429 Jump to.

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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Question

Business Studies / Business Math / Semester 2, 2020/2021 / BUSINESS MATH M
Cost of an item is OMR 335, If the markup is 28% on the cost, find the selling price;
ed
O a. OMR 93.8
rked out of
1.00
O b. OMR 126
O. OMR 241.2
Next page
2g question
O d. OMR 429
Course Orientation Business Math
Jump to...
TOSHIBA

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QUESTION 11 Match the term on the left to the appropriate description on the right. v Cost of goods available for sale (COGAS) A. A valuation rule applied to ending inventory. v LIFO reserve B. The maximum value that cost of goods sold (COGS) can be in a period. C. The amount by which inventory measured under FIFO would exceed inventory measured under LIFO v Lower-of-cost-or-market v Inventory turnover ratio. D. An inventory cost flow assumption. E. A measure for evaluating a company's inventory management. v FIFO (first-in, first out) v Periodic inventory F. A system for calculating COGS based on ending inventory value.
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Q. 2 (b1)
On the basis of the data shown below: Inventory Cost per Market Value per Unit Item Quantity Unit (Net Realizable Value) МX62 80 $42 $40 05T4 155 20 23 Determine the value of the inventory at the lower of cost or market by applying lower of cost or market to each inventory item, as shown in Exhibit 9. $ 6,925 x
7. Consider the following: Code: A= Gross Profit to Net Sales Ratio B= Gross Profit to Cost of Goods Sold Ratio Which equation is correct? B = A a. 1 - A b. B = 1 + A A с. B = 1 - A A d. B = A 1 + A