5.(a)Find the missing numbers in the table if the markup is based on cost.RMCost50MarkupSelling Price25(b)Find the missing numbers in the table if the markup is based on the selling price.RMCostMarkup820Selling Price6.A t-shirt originally sold for RM15 and was marked down to sell for RM8. Find themarkdown and rate of markdown rounded to the nearest tenth of a percent.(3 marks)

Solution Note Dear student as per the Q&A guideline we are required to answer the first question…

(a) Find the missing numbers in the table if the markup is based on cost. RM Cost 50 Markup Selling Price 25 (b) Find the missing numbers in the table if the markup is based on the selling price. RM Cost 8. Markup Selling Price 20 5.

(a) Find the missing numbers in the table if the markup is based on cost. RM Cost 50 Markup Selling Price 25 (b) Find the missing numbers in the table if the markup is based on the selling price. RM Cost 8. Markup Selling Price 20 5.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 2MC: If a company has three lots of products for sale, purchase 1 (earliest) for $17, purchase 2 (middle)...

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Question

5.
(a)
Find the missing numbers in the table if the markup is based on cost.
RM
Cost
50
Markup
Selling Price
25
(b)
Find the missing numbers in the table if the markup is based on the selling price.
RM
Cost
Markup
8
20
Selling Price
6.
A t-shirt originally sold for RM15 and was marked down to sell for RM8. Find the
markdown and rate of markdown rounded to the nearest tenth of a percent.
(3 marks)

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