Case A - Simple Gross Profit calculation - No inventory (stock) involved A football club purchases the following items of clothing to resell to its members: Shirts - quantity 200, costing #20 each, selling price $30 each Shorts - quantity 200, costing $15 each, selling price $20 each Socks - quantity 200 (pairs), costing $6 each, selling price $10 each All items of clothing were sold. Your task is to calculate the Gross Profit in dollar and percent terms or each of the three lines of clothing. What is the overall Gross Profit in dollar and percent terms, and which line of clothing was the most profitable? Case B - Gross Profit calculation with changes of inventory(stock) involved sport organisation runs a bar in its clubhouse. During the month of June, the accounts show that purchases and sales for the four categories of products that are sold from the bar were as in Table 1. stock take was taken at beginning and end of June and the stock levels as shown in Table 2. Your ask is to prepare a spreadsheet that calculates the Gross Profit for each category in dollar and ercent terms, and the same for overall Gross Profit of the bar for the month of June. Table 1 Category Purchases Sales Beer 6,000 10,000 Wine 4,500 8,000 pirits 2,000 3,500 Other 800 900 Table 2 Category Opening Closing stock (1jun) stock (30jun) Beer 500 800 Vine 1,000 1,200 pirits 750 900 Other 250 500 Total 2,500 3,400