WAEC - Commerce (2022 - No. 14)
Sales ----------------------------------- #50,000
Debtors -------------------------------- #10,000
Cash-in-hand --------------------------#5,000
Opening stock -------------------------#30,000
Creditors ------------------------------- #8,000
Purchases ----------------------------- #16,000
Overdraft ------------------------------- #12,000
Closing stock -------------------------- #10,000
Calculate the gross profit.
#35,000.00
#20,000.00
#15,000.00
#14,000.00
설명
Gross Profit = Sales - Cost of Goods Sold (COGS)
COGS = Opening Stock + Purchases - Closing Stock
COGS = 30,000 + 16,000 - 10,000 = 36,000
Gross Profit = Sales - COGS
Gross Profit = 50,000 - 36,000 = #14,000