• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

ACCA Webinars: How to earn marks in Strategic Professional Exams. Learn more >>

20% off BPP Books for ACCA & CIMA exams - Get BPP Discount Code >>

Markup

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Markup

  • This topic has 1 reply, 2 voices, and was last updated 2 months ago by John Moffat.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • May 25, 2022 at 6:05 am #656404
    FajarP
    • Topics: 3
    • Replies: 8
    • ☆

    John reduces his inventory level by $12,000 during the year and makes sales of $40,000. His markup on cost is 20%
    What are his purchases during the year?

    The ans given is 12333.

    May 25, 2022 at 8:14 am #656416
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 49902
    • ☆☆☆☆☆

    The answer is not 12,333. Either you have mistyped one of the figures or there is a mistake in your book.

    The cost of sales was 100/120 x $40,000 = $33,333.

    $12,000 came from inventory and therefore they must have purchases 33,333 – 12,000 = $21,333.

    Have you watched my free lectures on mark-ups and margins? The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

ACCA Introducing professional skills into the Options exams

ACCA Professional Skills Webinar – Register now

Donate

If you have benefited from OpenTuition please donate.

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • Chukwuedo2505 on Double Entry Bookkeeping (part b) – ACCA Financial Accounting (FA) lectures
  • mannannagpal on MA Chapter 5 Questions Ordering and Accounting for Inventory
  • mannannagpal on MA Chapter 5 Questions Ordering and Accounting for Inventory
  • mbarrie on FA Chapter 4 Questions Accruals and Prepayments
  • mbarrie on FA Chapter 4 Questions Accruals and Prepayments

Copyright © 2022 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy