Question 1 Report
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 inwards | 4,000 |
Rent received | 80,000 |
Salaries | 29,000 |
Stock -31st December 2018 |
You are required to calculate:
(a) cost of goods sold
(b) gross profit
(c) net profit
(d) percentage of gross profit