Question

calculate merchandise cost, gross profit and net income from the following information.


purchases(3,000artical)25000
freight 1500
local taxes 1000
salaries 2500
shop rent 500
godown rent 500
electric charges 600
municipal taxes 200
stationery 250
furniture (estimated life 5 years ) 12000
sales (2700articles) 32000
Ans. Merchandise cost 24750
Gross profit 7250
Net income 300
please help me ​

Answer 1

Answer:

1. MERCHANDISE COST IS ₹ 24750
2. GROSS PROFIT IS ₹ 7250
3. NET INCOME IS ₹ 300