BXY Enterprise has the following balance at the end of march 2010 opening stock D6,000 purchases D23,000 salaries and wages D12,000 closing stock D8,000 sal...
BXY Enterprise has the following balance at the end of march 2010
opening stock
D6,000
purchases
D23,000
salaries and wages
D12,000
closing stock
D8,000
sales
D30,000
Use the information above to answer the following question.
calculate the gross profit by BYX Enterprise
Answer Details
To calculate the gross profit of BYX Enterprise, we need to subtract the cost of goods sold from the total sales revenue.
Cost of goods sold = opening stock + purchases - closing stock
= D6,000 + D23,000 - D8,000
= D21,000
Gross profit = sales - cost of goods sold
= D30,000 - D21,000
= D9,000
Therefore, the gross profit by BYX Enterprise is D9,000.