Sales – #232,000
Opening stock – # 28,000
Purchases – #128,000
Carriage inwards – # 4,000
Carriage outwards – # 6,000
Closing stock – # 10,000
Discount received – # 18,000
Expenses – # 20,000
Calculate the gross profit
-
A.
#100,000 -
B.
#86,000 -
C.
#82,000 -
D.
#76,000
Correct Answer: Option A
Explanation
sales 232,000
Add: disc. received 18,000
opening stock 28,000
+ purchase 128,000
cost of gds. avail. for sale 156,000
Less:closing stock 10,000
Cost of gds sold 146,000
Add Carriage inwards 4000 150000
Gross profit 100,000