Sales in the year ending 31 March 2012 were £43,200. Identify the gross profit ratio, as a percentage, in each of the following independent situations:

(a) Gross profit for the year was £5,400

(b) Goods are sold at a consistent price fixed at cost plus a third

(c) Opening inventory, purchases, carriage inwards and closing inventory were £4,400, £21,400, £1,200 and £5,400 respectively

Transcribed Image Text:

x 20% y z 25% N 12.5%