Homework Answers
Cost of Item = $20
Cost + Mark up = Selling Price
If 30% mark up on selling price, Selling Price = 20/(100-30%) = $28.57
If mark up on cost, selling price = 20+20*30% = $26
Hence, difference = $2.57
The answer is $2.57
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basis, in pricing its inventory items. The inventory at December
31, 2017, consists of products D, E, F, G, H, and I. Relevant per
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Item F
Item G
Item H
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$144
$132
$114
$108
$132
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Cost
90
96
96
96
60
43
Cost to complete
36
36
30
42
36
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