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A firm always provides 25% mark up on cost when quoting prices to customers. If...

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Question

Accounting

A firm always provides 25% mark up on cost when quoting prices to customers. If the cost of a job is $1600.

Calculate

Gross profit

Selling price

Gross profit margin

The cost as a percentage of sales



Part b

A company maintains a gross profit of 30% of sales price. If the goods have a cost of $280 what will be the selling price?

Answer & Explanation Solved by verified expert
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