Question
A gross profit of 25% on turnover has been realised. Credit sales (after deducting returns) amounted to R36 000. Cash sales amounted to R32 000.
A gross profit of 25% on turnover has been realised. Credit sales (after deducting returns) amounted to R36 000. Cash sales amounted to R32 000. Closing inventory amounted to R15 000. Opening inventory was R17 500. General expenses amounted to R3 600. There were no inventory shortages. You are required to: Calculate the purchases for the year.
A. R48 500
B. R17 500
C. R51 000
D. R15 000
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Rehabilitation Tax Credit IRS Audit Techniques Guide
Authors: Internal Revenue Service
1st Edition
1304114686, 978-1304114686
