(6 marks) Inventory 1.1.2020 $4000 Inventory 31.12.2020
Posted: Thu May 19, 2022 3:31 pm
(6 marks)
Inventory
1.1.2020
$4000
Inventory
31.12.2020
6000
Purchases
52,000
A uniform rate of markup of 20% is
applied.
Required: Calculate the gross profit and the sales
figures using the income statement
approach.
Inventory
1.1.2020
$4000
Inventory
31.12.2020
6000
Purchases
52,000
A uniform rate of markup of 20% is
applied.
Required: Calculate the gross profit and the sales
figures using the income statement
approach.