Cost Calculations
CP=SP×100÷100+MU
SP=CP×100+MU÷100
GP=SP-CP
MU=SP-CP÷CP×100
CP-Cost price
SP-Selling price
MU-Mark up
GP-Gross profit
POSTING RULES
Cash Receipts Journal
Dr:Bank Dr:Cost of sales
Cr:All other accounts Cr:Trading stock
Cash Payments Journal
Dr:All other accounts
Cr:Bank