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What as the sales for the month

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Question - Savoy is a trader in sweet foods. The firm operates with a margin of 25%. During the month of July 2017, the opening stock was $60,000, purchases were $310,000 and the closing stock was $70,000. What as the sales for the month?

The Granite Stone is a trader in a fancy kitchen counter. The firm operates with a mark up of 66.67%. During the month of June 2017, the opening stock was $80,000; purchases were $310,000 and sales were $ 500,000. At the end of June, a portion of the closing stock was damaged and could not be sold. The amount recovered was $40,000. What was the value of the closing stock? What portion of stock was damaged?

Reference no: EM133151831

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