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Calculate the gross profit for 28 february 2018

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Reference no: EM132379803

QUESTION

The following information relates to Pat Stores for the year ended 28 February 2018:

Sales

400

000

Purchases

155

000

Inventory (01/03/2017)

8

000

Inventory (28/02/2018)

18

000

Carriage on sales

10

000

Import Duty

5

000

Sales returns

15

000

Railage on purchases

5

000

Required:

1. Calculate the Cost of Sales for 28 February 2018 using the information given.

2. Calculate the Gross profit for 28 February 2018 using the information given.

Reference no: EM132379803

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