The following figures relate to the retail business of A. Bell for the month of July 2016.
Question:
The following figures relate to the retail business of A. Bell for the month of July 2016. Goods which are on sale fall into two categories, X and Y.
You are to calculate for each category of goods:
(a) Cost of goods sold.
(b) Gross profit.
(c) Total expenses.
(d) Net profit.
(e) Average inventory at cost, assuming that sales are distributed evenly over the year, and that each month is of the same length.
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Related Book For
Frank Woods Business Accounting Volume 1
ISBN: 9781292084664
13th Edition
Authors: Alan Sangster, Frank Wood
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