Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You work for a wholesale firm which distributes a single product. $57,600 is the value for opening inventory (1 Oct 2020). Closing inventory valuation conducted

You work for a wholesale firm which distributes a single product. $57,600 is the value for opening inventory (1 Oct 2020). Closing inventory valuation conducted on 31 October 2020, $80 640 Purchases during the month were: 9 n October 1,140 units @ 145 each 15 October 1,310 units @ 150 each 24 October 620 units@ 155 each Sales during the month were: Date Number of items selling price per item $ 12 October 1,040 21 October 1,840 205 220 The other cost besides the purchases were: Wages of staff $44,700; Premises expenses $42,750; Administrative expenses $13,620; Selling and marketing costs $17,890; Carriage inwards $ 3,750; Carriage outwards $4,120 and Depreciation $11,250 What is the total sales revenue received for the month of October 2020

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

Budget Management Comprehensive Beginner S Guide To Budget Management

Authors: Steve Wilson

1091168881, 978-1091168886

More Books

Students also viewed these Accounting questions

Question

Question What is a Roth 401(k) feature?

Answered: 1 week ago