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    Chash_jpc's Avatar
    Chash_jpc Posts: 2, Reputation: 1
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    #1

    Jan 26, 2010, 10:41 AM
    What is Perecentage on Cost and Sales
    If Purchases is 100000, Sales is 90000, margin is 20% on cost. What is the closing stock?
    Chash_jpc's Avatar
    Chash_jpc Posts: 2, Reputation: 1
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    #2

    Jan 26, 2010, 10:41 AM

    If Purchases is 100000, Sales is 90000, margin is 20% on cost. What is the closing stock?
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #3

    Jan 26, 2010, 07:16 PM

    Not enough info.
    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
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    #4

    Jan 26, 2010, 11:56 PM

    If margin is 20% on cost, then the sales price must be equal to 100 + 20 = 120. Based on this the cost of sales will be 90000/1.20 = 75000, and if there is no opening inventory the closing inventory will be 100000 - 75000 =25000.
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    morgaine300 Posts: 6,561, Reputation: 276
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    #5

    Jan 27, 2010, 11:08 PM

    Based on the assumption there was no beginning inventory. (Unless I can tell something has been copied verbatim, I never quite trust that's really all there is.)
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