Cost Determination – NBC Institute

FA – Nov 2013 – L1 – SA – Q38 – Elements of Financial Statements

Calculating the original cost of goods using mark-up information.

Question

Jenson Manufacturing Company has the policy of transferring manufactured goods from the factory to the sales department at cost plus 25% mark-up. In the current accounting period, the value of goods transferred from the production to sales department amounted to ₦2,000,000. What was the original cost of the goods to the production department?

Answer

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Tags: Cost Determination, Inventory Valuation, Mark-Up
Level: Level 1

Topic: Elements of Financial Statements
Series: NOV 2013

Question Tag: Cost Determination

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FA – Nov 2013 – L1 – SA – Q38 – Elements of Financial Statements

Calculating the original cost of goods using mark-up information.

FA – Nov 2013 – L1 – SA – Q38 – Elements of Financial Statements

Calculating the original cost of goods using mark-up information.

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Question Tag: Cost Determination

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Calculating the original cost of goods using mark-up information.

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Calculating the original cost of goods using mark-up information.

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