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WAEC - Commerce (2015 - No. 15)

BXY Enterprise has the following balance at the end of march 2010
opening stock D6,000
purchases D23,000
salaries and wages D12,000
closing stock D8,000
sales D30,000

Use the information above to answer the following question.

BXY Enterprise has the following balance at the end of march 2010
opening stock D6,000
purchases D23,000
salaries and wages D12,000
closing stock D8,000
sales D30,000

Use the information above to answer the following question.

BXY Enterprise has the following balance at the end of march 2010
opening stock D6,000
purchases D23,000
salaries and wages D12,000
closing stock D8,000
sales D30,000

Use the information above to answer the following question.

calculate the gross profit by BYX Enterprise
D13,000
D9,000
D5,000
D1,000

Explanation

gross profit = sales - cost of goods sold

(cost of goods sold is gotten as = opening stock + purchases - closing stock)

(COGS= 6000 + 23000 - 8000 = 21000) ''since we now know the value of cost of sales, we can now calculate the gross profit''

gross profit= 30,000 - 21,000 = 9,000

 

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