A company goods sent to branch at invoiced pric... - JAMB Accounting 2019 Question
A company goods sent to branch at invoiced price is ₦30,870 at cost plus 25%. The mark-up is
A
₦20,000
B
₦6,000
C
₦6,174
D
₦10,000
correct option: c
We have to convert the mark-up to margin
\(\frac{25}{100}={1}{4}={1}{1+4}={1}{5}\)
profit = \(\frac{1}{5}\) x 30,870 = 6,174
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