The ABC Boutique had the following information at June 30, 20X1: Inventory increased by P10,000 Purchase returns, P5,000 Freight in, P3,000 Sales, P300,000 Sales discount, P25,000 If the gross profit is 20% of net sales. How much is the gross purchases for June? a. 202,000 b. 212,000 c. 222,000 d. 232,000
The ABC Boutique had the following information at June 30, 20X1: Inventory increased by P10,000 Purchase returns, P5,000 Freight in, P3,000 Sales, P300,000 Sales discount, P25,000 If the gross profit is 20% of net sales. How much is the gross purchases for June? a. 202,000 b. 212,000 c. 222,000 d. 232,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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The ABC Boutique had the following information at June 30, 20X1:
Inventory increased by P10,000
Purchase returns, P5,000
Freight in, P3,000
Sales, P300,000
Sales discount, P25,000
If the gross profit is 20% of net sales. How much is the gross purchases for June?
Inventory increased by P10,000
Purchase returns, P5,000
Freight in, P3,000
Sales, P300,000
Sales discount, P25,000
If the gross profit is 20% of net sales. How much is the gross purchases for June?
a. 202,000
b. 212,000
c. 222,000
d. 232,000
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