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
| 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
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