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Dear John,
Selling price is fixed at the cost of inventory plus 50%.
It is calculated as cost of sale * 100/150.My question is that why we use 150 instead of 50.
First of all, it is not calculated as cost of sale x 100/150 !!
(it is cost of sale x 150/100)Suppose you had something that cost $100. Then selling price is $100 + (50% x 100), which equals $150.
So….for every 100 cost of sale, the selling price is 150.
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