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Calculate Sales, Cost of Sales and Net Profit An extract of the trial balance of Pamela Traders on 30 September 2020 is provided to you:
Calculate Sales, Cost of Sales and Net Profit
An extract of the trial balance of Pamela Traders on 30 September 2020 is provided to you:
Pamela Traders |
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Extract of the trial balance on 30 September 2020 |
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| Debit | Credit |
| R | R |
Sales |
| 45 000 |
Purchases | 29 500 |
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Inventory (01/10/2019) | 5 700 |
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Freight on purchases | 750 |
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Postage | 340 |
|
Wages | 6 000 |
|
Advertising | 1 900 |
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Other Sundry expenses | 2 500 |
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Additional information:
Inventory on hand on 30 September 2020 amounts to R6 400. The periodic inventory system is in use.
Calculate the gross profit amount.
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