The information given relates to the business of May Styles. Summarised trading and profit and loss account

Question:

The information given relates to the business of May Styles.

Summarised trading and profit and loss account for the year ended 28 February 20*8

Required

Calculate:

a) Mark-up
b) Net profit margin
c) Overheads in relation to turnover
d) Rate of stock turnover.

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Introducing Accounting For AS

ISBN: 9780340959404

2nd Edition

Authors: Ian Harrison

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Question Posted: Aug 23, 2023 05:43 AM

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The information given relates to the business of May Styles. Summarised trading and profit and loss account

Question:

Sales Less cost of sales Stock 1 March 20*7 Purchases Stock 28 February 20*8 Gross profit Expenses Net profit £. 39,000 167,000 206,000 41,000 £ 313,500 165,000 148,500 88,500 60,000

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Lets calculate the requested values step by step a Markup Markup is the percentage added to the cost ...View the full answer

Introducing Accounting For AS

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