Respuesta :
Answer:
the gross profit for the month is $47,522
the gross profit percentage for the month is 81.48%
Explanation:
gross profit calculation for the month
Sales ( 5,400 × $11) 59,400
Less Discount Allowed (2,600×$11×3%) ( 858)
Less Sales Allowances $220 ( 220)
Net Sales 58,322
Less Cost of Goods Sold
Opening Stock 0
Add Purchases (5,400 × $2) 10,800
Less Closing Stock 0 (10,800)
Gross Profit 47,522
gross profit percentage for the month
gross profit percentage = gross profit / sales × 100
= 47,522/ 58,322 × 100
= 81.48%
The gross profit for the month is $47,522 and gross profit percentage for the month is 81.48%.
Particulars Amount
Sales (5,400 × $11) $59,400
Less: Discount Allowed (2,600×$11×3%) ($858)
Less: Sales Allowances $220 ($220)
Net Sales $58,322
Less Cost of Goods Sold
Opening Stock $0
Add Purchases (5,400 × $2) $10,800
Less Closing Stock $0 ($10,800)
Gross Profit $47,522
Gross profit percentage = Gross profit / Sales * 100
Gross profit percentage = $47,522 / $58,322 * 100
Gross profit percentage = 81.48%
Hence, the gross profit for the month is $47,522 and gross profit percentage for the month is 81.48%.
See similar solution here
brainly.com/question/24278528