9a- Compute the cost of goods sold
9b. compute Gross Profit
Homework Answers
9.a
Computation of cost of goods sold:
Cost of goods sold = Opening inventory + Net purchase + Freight in - Ending inventory
Net purchase = 96000 - 5000 - 8500 = 82500
Cost of goods sold = 2200 + 82500 + 3200 - 19000
= 68900
9.b
Computation of Gross profit:
Gross profit = Net sale Revenue - Cost of goods sold
= 212400 - 68900 = 143500
Add Answer to:
9a- Compute the cost of goods sold
9b. compute Gross Profit
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