A vendor bought inventory for R1 430. Expenditure of R270 was incurred to bring the inventory to

Question:

A vendor bought inventory for R1 430. Expenditure of R270 was incurred to bring the inventory to the required condition for sale. The inventory was sold for R2 380.

You are required to:

1. Calculate the cost price of the inventory that is used as the basis for marking the inventory up to selling price.

2. Calculate the mark-up percentage.

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Related Book For book-img-for-question

Fundamental Accounting

ISBN: 9781485112112

7th Edition

Authors: David Flynn, Carolina Koornhof, Ronald Arendse, Anna C. E. Coetzee, Edwardo Muriro, Louise Christel Posthumus, Louise Mancy Smit

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Question Posted: Aug 30, 2023 03:45 AM

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A vendor bought inventory for R1 430. Expenditure of R270 was incurred to bring the inventory to

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Calculate the Cost Price of the Inventory The cost price of the inventory includes both the orig...View the full answer

Fundamental Accounting

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