Use the following to answer the given question

$\begin{array}{c|c} & N & & N \\ \hline \text{Opening stock} & 1,200 & sales & 29,000 \\ Purchases & ? & \text{Less sales returns } & 500 \\ \text{Add. Carriage Inwards} & 300 & & ? \\ \text{Less return outwards} & 1,570 \\ & 28,500 \\ \text{Less closing stock} & 2,220 & \\ \text{Gross Profit(25% of sales)} & 28,500 & & 28,500 \end{array}$

The goods profit is

Similar Questions

Gross profit in the branch adjustment account is transferred to the branch____________ ...

Cost of goods sold is calculated as................... ...

Shares are said to be authorized when they are ...

Which of the following columns of a three column cash book are memoranda? i. Discount ii. Discount a...

Which of the following items is a tangible asset? ...

Alabede (NIG) limited issued 50 000 ordinary shares of N1 each at a market value of N2.50 each. the ...

Into how many major types can general purpose computers be classified? ...

Which of the following is found on the credit side of a profit and loss account? ...

Interest on Johnson's drawing is ...

Reducing balance method charges depreciating as fixed percentage of the ...