Groff Profit Percentage Question

by Tamara
(Zimbabwe)

Q: The following information relates to 20.6/20.7 financial year of ABC:


Sales 150,000
Purchases 137,000
Inventory/merchandise at 1 may 20.6 12,500
Inventory/merchandise at 30 april 20.7 22,500
Purchases returns 25,000
Carriage on sales 20,000
Customs & import duties 2,500

Required: What is the gross profit percentage?

Comments for Groff Profit Percentage Question

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How To Get Gross & Net profit
by: Anonymous

I have sales + expenses + purchased + Payments + ending inventory + a/c Receive able + a/c Payable, Kindly tell me how to Get net profit

answer
by: saqib

GP 17%

sales
(CGS)
GP.

Purchases - purchases return + expenses on carriage + opening stock - closing stock = Cost of Goods Sold


Accounting
by: Anonymous

you need to add milk to the equation but not to much or it will get soggy

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