Ca cpt june 2014 question

A very Good Morning To You, I Hope I'm Not Late.

     Total Goods Sold =85%      

  COG=100000             I.P=120000 (100000+20%)        COGS=85000          

     I.P (COGS) = 102000 

5% commission on sales up to Invoice price    =  5%* 102000               = 5100

20% on sales which exceeds invoice price       =  20%(110000-90000)  =  4000

2% delcredre commission on credit sales         = 2%(70000)                  = 1400

                                                             TOTAL COMMISSION                 =10500

(I Took 110000 As Selling Price Of Goods Sold Above Invoice Price As Consignee Took 10% Of Remaining Goods (At Invoice Price) and 90000 As Cost OF Goods Because It's 75% of 120000 (Again Because Consignee Took Hold Of Goods At Invoice Price))

As Far As The Scanner Is Concerned,They Were Wrong.They Took Consignee's Takeover as Credit Sales And NEver Considered The Invoice Price For 5% commission on sales up to Invoice price.

I Hope This Suffice Your Query.All The best (If Youre Having your CPT tomorrow).

A Similar Question Was Asked At The Cpt Paper Yesterday,I Hope You Answered It Correctly