Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the year ended 31 August 2019, Marina made total sales of 553,000. There were sales returns of 22,500. Her cost of sales for the

image text in transcribed
In the year ended 31 August 2019, Marina made total sales of 553,000. There were sales returns of 22,500. Her cost of sales for the year was 385,000. Electricity for the period cost 2,500. What was Marina's gross profit for the year ended 31 August 2019? Select one: a. 189.500 b. E146,000 c. 144,500 d. E143,500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Accounting Principles

Authors: Larson Kermit, Tilly Jensen

Volume I, 14th Canadian Edition

71051503, 978-1259066511, 1259066517, 978-0071051507

Students also viewed these Accounting questions