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incomplete records

FKfahim khan11y ago
i need some easy way to calculate incomplete records.can u assist me ??
Aalihussain11y ago#1
question during 2007 a company had gp of 90000 on sales of 250000.during 2008 its sales were increased by 25% and gp percentage decreased by 6%,and its purchases were 198750 witch were 20% more than the previous year.its inventory on 31 dec 2008 was 80000. what was its inventory on 31 dec 2007? a. 90000 b. 98000 c. 110000 i got no answer from the above given answers. my answer was 88000 .is this true or not? sir plzzz help me......
Former userFormer user11y ago#2
2007 GP% = 90/250 = 36% 2008 GP% = 36 - 6 = 30% 2008 sales = 250,000 x 1.25 = 312,500 2008 GP = 312,500 x 30% = 93,750 2008 CoS = 312,500 x 0.7= 218,750 CoS = OS + Purchases - CS 218,750 = OS + 198,750 - 80,000 OS = 218,750 -198,750 + 80,000 = 100,000 I don't get answer a, b or c
Aalihussain11y ago#3
thank you for the answer.....
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