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store sells two brands of battery: Silver and Gold. Purchases for the month of June consisted of 30 silver brand units at P1,650 each and
store sells two brands of battery: Silver and Gold. Purchases for the month of June consisted of 30 silver brand units at P1,650 each and 20 gold brand units at P1,900 each. At the end of the month an inventory count showed that 12 silver brand units and 5 gold brand units are still on hand. Instruction: a. Compute for each brand: purchases, merchandise inventory at the end of June and cost of sales using the following format: Gold Silver Purchases (computation for gold) (computation for silver) Less Merchandise Inventory End: (computation for gold) (xxx) (computation for silver) (xxx) Cost of Sales b. Assume a silver brand sells for P2,500 and a gold brand sells for P2,750.Compute for each brand sales revenue and gross profit using this format. Gold Silver Sales (computation for gold) (computation for silver) (xxx) Less Cost of Sales: refer to a) above (xxx) Gross Profit
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