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With falling prices, LIFO COGS (Cost of Goods Sold) will include the cost of lower-priced inventory and COGS will be less as compared to FIFO COGS. Because of this, the firm reports a higher gross profit margin (Gross Profit/sales) under LIFO than under FIFO, while LIFO inventory will be higher and inventory turnover lower.
A shopkeeper sold an article for Rs. 600 after offering a discount of 40%. If he earned a profit of 50%, then find the ratio of cost price to the marked...
A merchant increased the price of a blouse by 20%. If the labeled price of the blouse is Rs. 600, and in this transaction, the shopkeeper made a profit ...
A shopkeeper purchases rice of two varieties ‘A’ and ‘B’ at Rs. 18 per kg and Rs. 45 per kg respectively. He mixes 1 kg of variety ‘A’ rice ...
The cost price of two articles is same. One article is sold at 40% profit and another at 10% loss. If the selling price of one article is Rs. 700 more t...
The selling price of an article is 30% more than its cost price. Given that the ratio of the marked price to the cost price is 26:15, determine the appr...
The selling price of y items is equal to the cost price of 540 items. If the profit made is 44%, then find the value of y.
If 7% of S.P. is equal to 8% of C.P. and if 9% of S.P. is Rs. 2 more than 10% of C.P, then find C.P. and S.P.
A sold a car to B at 11% profit, who later sold it back to A at 4% loss. If initially A purchased the car for Rs. 250000, then find the total profit ear...
One article is sold at 10% profit while other is sold at 5% loss such that the difference between their selling prices is Rs. 180. If the cost price of ...
Profit percentage received on a product when sold for Rs.500 is equal to the percentage loss incurred when the same product is sold for Rs.300. Find the...