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hello sir the test question on mark-up and margins question no3&4 is not clear enough pls can you explain the best way to solve it?
Thanks.There is more than one way of solving this sort of question.
However I think the best and easiest way is to calculate from the sales what the actual cost of the goods sold was (in the same way as I do in the free lectures, which I obviously assume that you watched before attempting the test), then calculating what the cost of goods sold would have been using whatever the actual inventory is.
The difference between the two has to be the value of the inventory that is missing.when i worked it out i got $122856.338 for question no 4 of the test i dont know how true it is as it was worked through nearest 000” and i could not get question no 3 answer pls can you work it out for me
I assume you mean question 2 (and I assume you are referring to the online practice tests).
The answer is 122856, but since the question specifically asks for it to the nearest 1,000, then it is 123,000.The full workings for question 3 (and all the questions) appear immediately after you have submitted your answer.
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