Lesson Plan

• Apply markup, margin, and inventory turnover formulas to calculate missing cost, price, or inventory figures.
• Analyse incomplete accounting records and select the appropriate reconstruction method.
• Solve numerical problems using the basic inventory equation and verify the results.
• Communicate the steps taken to reconstruct records clearly and accurately.

• Projector and screen
• Whiteboard and markers
• Printed worksheets with incomplete record tables
• Scientific calculators
• Formula cheat‑sheet (markup, margin, turnover)
• Sample data sets for pair work

Begin with a short story about a small retailer who lost part of their sales ledger, highlighting the real‑world need to reconstruct figures. Ask students to recall the difference between markup and margin and how inventory turnover relates to profit. Explain that by the end of the lesson they will be able to fill in missing numbers confidently and check their work.

1. Do‑Now (5') – Quick quiz on definitions of markup, margin, and inventory turnover.
2. Mini‑lecture (10') – Review the three key formulas and discuss when each is appropriate.
3. Guided example (15') – Walk through the worked example on the board, solving each step together.
4. Paired practice (12') – Students receive a new incomplete record and decide which method to use; teacher circulates to support.
5. Whole‑class debrief (8') – Groups share solutions; address common errors and reinforce the checklist.
6. Exit ticket (5') – Individual problem requiring one calculation using any of the three techniques.

Summarise the steps for reconstructing incomplete records and remind students of the checklist. Collect the exit tickets to gauge understanding, and assign the two practice questions from the source as homework, asking learners to show all working.