Farr Company had the following information:
- What is the markup based on cost of goods sold?
A) 50.0%
B) 100.0%
C) 37.5%
D) 62.5%

Name: Farr Company had the following information: - What is the markup based on cost of goods sold? A) 50.0% B) 100.0% C) 37.5% D) 62.5%
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Question

Farr Company had the following information: 
- What is the markup based on cost of goods sold?
A) 50.0% 
B) 100.0% 
C) 37.5% 
D) 62.5%

Quizplus · Accepted Answer

Markup based on cost is calculated as (Selling Price - Cost Price) / Cost Price. A 100% markup means the selling price is double the cost price.

Farr Company Had the Following Information