- 1 Marks
Question
If the cost of goods sold is N315,060 and the profit margin is 25%, what is the turnover?
Answer
N420,080.
Explanation:
To calculate turnover, we use the formula:
- Tags: Cost of Goods Sold, Profit margin, Revenue, Turnover
- Level: Level 1
- Topic: Financial Statements Preparation
- Series: NOV 2012
- Uploader: Theophilus