The cost of goods sold for the year is Le200,000 and the mark-up is 30%. The sale for the year is
Answer Details
To find the sale for the year, we need to add the mark-up to the cost of goods sold. The mark-up is 30% of the cost of goods sold, which means we need to add 0.3 times the cost of goods sold to the cost of goods sold itself.
So, Sale for the year = Cost of goods sold + Mark-up
Sale for the year = Le200,000 + 0.3 x Le200,000
Sale for the year = Le200,000 + Le60,000
Sale for the year = Le260,000
Therefore, the sale for the year is Le260,000.