Omar imports onyx picture frames from India. He prepares accounts to 30 April each year. In the
Question:
Omar imports onyx picture frames from India. He prepares accounts to 30 April each year. In the year ending 30 April 20X7 he records the following totals for trading transactions:
£
Sales 347 348 Purchases 240 153 Import duties 6 043 Sales returns 2 971 Purchases returns 1 800 Omar's opening stock at 1 May 20X6 was £43 730 and his closing stock at 30 April 20X7 was £41 180. What is Omar's gross profit for the year?
a) 97 431
b) 99 773
c) 109 517
d) 91 388.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Business Accounting And Finance For Non Specialists
ISBN: 9781861528728
1st Edition
Authors: Catherine Gowthorpe
Question Posted: