The following information is from the books of Auntie Justie, who sells books, for the year ended 31/12/15 Le sales 220,000 stock 1/1/05 60,000 purchases 18...

Question 1 Report

The following information is from the books of Auntie Justie, who sells books, for the year ended 31/12/15
  Le
sales 220,000
stock 1/1/05 60,000
purchases 180,000
stock 31/12/05 70,000
salaries and wages 8,000
Debtors 16,000
Transport 6,000
Rent 5,000

Calculate (showing all workings) the: (a) gross profit (b) average stock (c) net profit 
 

Purchase And Sale Of Goods
View Answer