Question
2.3 Average inventory 36,800 Opening inventory 22,400 Page 23 of 23 Expenses 8,300 Inventory turnover 3 times Gross profit mark-up 25% Calculate sales, purchases, closing
2.3 Average inventory 36,800 Opening inventory 22,400 Page 23 of 23 Expenses 8,300 Inventory turnover 3 times Gross profit mark-up 25%
Calculate sales, purchases, closing stock, cost of sales, gross profit, net profit and net profit margin (14 Marks).
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Advanced Accounting
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
11th Edition
978-0132568968, 9780132568968
