Question 1 Report
| Le | |
| Rent | 25,000 |
| sales | 850,000 |
| return outwards | 15,000 |
| purchase | 400,000 |
| returns inwards | 25,000 |
| Insurance | 45,000 |
| fixtures and fittings | 15,000 |
| wages and salaries | 112,000 |
| Transport | 6,000 |
From the above information calculate the: (a) turnover (b) cost of goods sold (c) gross profit (d) Rate of stock turn