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goods in transit?!?!?

  • 14-06-2008 10:36am
    #1
    betsymagoo
    Closed Accounts Posts: 51 ✭✭


    how the fook do you get this figure..... i just cant seem to nail it....

    "stock cost was 72500. No record had been made in the books for goods in transit. the invoice for these goods had been receied showing the recommended retail selling price of 7000 which is cost plus 25%"

    the answer is 5600.... but i just cant get it...

    please somebody put me out of my misery....:confused:


Comments

  • #2
    carlowboy
    Registered Users, Registered Users 2 Posts: 1,152 ✭✭✭carlowboy


    If x = 100% then 7000 = 125%. So divide 5 into 7000 to get 25% which is 1400 and multiply by 4 to get 100% which is 5600


  • #3
    Catikins
    Closed Accounts Posts: 12 ✭Catikins


    The cost is 5600. Because they tell you that cost + 25% = 7000 so work backwards.

    The way i work it out: 7000 divided by 125 multiplied by 100.
    7000/125 = 56. 56 x 100 = 5600.
    5600 is the cost, which is the figure they want


  • #4
    betsymagoo
    Closed Accounts Posts: 51 ✭✭betsymagoo


    ahhh.... now i feel incredibly stooopid...... but thanks a million.....

    x


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