Paper 1 · November 2014 · Ratios and Interpretation
Use the following information to answer this question.
| $ | |
|---|---|
| Stock(Inventory) 1 January 2011 | 60 000 |
| Stock(inventory) 31 December 2011 | 84 000 |
| Turnover | 480 000 |
| Cost of goods sold | 360 000 |
What is the gross profit margin?
A25 %
B33⅓ %
C66⅔ %
D75 %
Explanation
Gross profit ; margin .
ZIMSEC Principles of Accounts 7112/1 Paper 1 (Multiple Choice), November 2014, Q28