Question

Use the information below to answer the following questions
Dumebi-Itohan Enterprises Trading Account for the year ended 30th June 2020.
₦
Opening stock 30,000
Purchases 2,500
Sales 50,000
Returns inwards 500
Returns outwards 1,000
Closing stock 4,500

Use the conventional “T” method and vertical format to find the gross profit of Dumebi-Itohan Enterprises Trading.

Answer 1

Answer:

16500

Explanation:

iam sum all the and this is answer

Answer 2

Answer:

Gross profit:13,500

Explanation:

Using T format