14. The food trade aims for a margin on products, which in addition tolosses covers 42% of the sales price. How much should be set as thetaxable sales price of tomatoes when the tax-free purchase price oftomatoes is € 1.3/ kg and an average of 90% of the tomatoespurchased can be sold? The VAT rate on food was 14% in 2017.

Solution Given Margin required 42% of the sales price Tax free purchase price 1.3 / kg…

Answered: 14. The food trade aims for a margin on…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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