Question 2 Ali recently opened a book store at Middlesex University, Hendon selling accounting textbooks. In the first m
Posted: Wed Apr 06, 2022 9:06 am
Question 2
Ali recently opened a book store at Middlesex University, Hendon
selling accounting textbooks. In the first month, he bought 1,000
textbooks at £15 each and had 200 textbooks left at the end of the
month. He sells the text books at £25 each.
Required:
a) Calculate Ali’s cost of sales.
b) What gross profit did Ali make in his first month?
Ali recently opened a book store at Middlesex University, Hendon
selling accounting textbooks. In the first month, he bought 1,000
textbooks at £15 each and had 200 textbooks left at the end of the
month. He sells the text books at £25 each.
Required:
a) Calculate Ali’s cost of sales.
b) What gross profit did Ali make in his first month?