The following information relates to Raisa's grocery store as of 31st December 2018. Stock -1st January 2018 20,000 Purchases 150,000 Sales 230,000 Carriage...

Answer Details

Workings:

i. Cost of goods sold = 139,000

ii. Gross profit = 91,000

iii. Net profit 62,000

iv. percentage of gross profit = gross profitsales $\frac{\text{<br> <span style="font-family: Ubuntu;"> gross profit</span>}}{\mathrm{<span\; style="font-family:\; Ubuntu;">𝑠</span>}\mathrm{<span\; style="font-family:\; Ubuntu;">𝑎</span>}\mathrm{<span\; style="font-family:\; Ubuntu;">𝑙</span>}\mathrm{<span\; style="font-family:\; Ubuntu;">𝑒</span>}\mathrm{<span\; style="font-family:\; Ubuntu;">𝑠</span>}}$ x 100%

= 91,000230,000×1001 $\frac{91,000}{230,000}\times \frac{100}{1}$ 

= 39.57%