Question

8. Calculate Merchandise Cost, Gross Profit and Net Income from the following information.
Purchases (3.000 articles)
25,000
1,500
Freight
Local Taxes
1,000
Salaries
2,500
Shop Rent
500
Godown Rent
500
600
200
250
Electric Charges
Municipal Taxes
Stationery
Furniture (estimated life 5 years)
Sales (2700 articles)
Ans. (i) Merchandise Cost 24.750
12,000
32,000​

Answer 1

Answer:

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