question archive White's business has a rate of turnover of 7 times
White's business has a rate of turnover of 7 times
Subject:FinancePrice:2.87 Bought7
White's business has a rate of turnover of 7 times. Average stock is £12,600. Trade discount (i.e. margin allowed) is 33¼% off all selling prices. Expenses are 66 ¾% of gross profit.
You are to calculate:
Cost of goods sold.
Gross profit margin.
Turnover.
Total expenses.
Net profit.
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