Tx08 Credit Sale $600 & COS $300
The net profit brought forward is $350.
Start with 8a. What do we have more of, or perhaps less of, as a result of this transaction?
Start with 8a. What do we have more of, or perhaps less of, as a result of this transaction?
Tx8-1: Observations
[Note: review the video only for the current transaction - ignore previous amounts on the whiteboard]
The gross profit margin, and the concept of markup, are very important in business. Note: the following discussion is using the $150 COS amount, but the principles remain the same.
Video Tx8-2: Markup and margin