110 Dyraf WIN 1 lan Cahilig Traders started operating in 2010. For the year ended 2010 purchases and clository are P500,000 P100.000 and PT NAME SECTION SCORE PROFESSOR Multiple Choice What is the amount of cost of food sold for the year ended 2007 P100.000 b. P200.000 P790.000 di PO,000 2. Hefer to Question 1, what is the gross profit for the entity P200,000 bP300,000 C310,000 Based on the following information answer questions 3 to 7 An entity has the following a cutting information for the year Sales Purchases Opening inventory Sales Returns Purchases Returns Transportation in Transportation Out Salaries Other Revers General Eyperses Gross Profit 100,000 90.000 30.000 30.000 70,000 40.000 10,000 9,000 4,000 7,000 250.000 What is the amount of net sales of the entity? P250,000 b. P280.000 LP330,000 d P330,000 Caminame de for Merchang Bet371 What is the amount of het purchases of the entity P20,000 P30,000 PSD.000 60.000 5 What is the amount of doing inventory of the entity? P20,000 1. P20,000 EP30,000 P40.000 What is the amount of profit for the year? 48.000 1P188,000 PI98,000 P228.000 7. Which of the followingla/are not relevant to the calculation of net sales? cash sales 2. sales returns 1 les discounts 2) only b) only 11) and (2) only (2) and (3) only