Question
From the following balances taken from the books of Simmi and Vimmi Ltd. for the year ending March 31, 2017, calculate the gross profit. Closing
From the following balances taken from the books of Simmi and Vimmi Ltd. for the year ending March 31, 2017, calculate the gross profit.
| Closing Stock | (?)2,50,000 |
| Net sales during the year | 40,00,000 |
| Net purchases during the year | 15,00,000 |
| Opening stock | 15,00,000 |
| Direct expenses | 80,000 |
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
11th Canadian edition Volume 2
1119048540, 978-1119048541
