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Zorluk: OrtaTrading Account and Gross Profit Calculation

Chidubem Trading Store reported the following financial balances at the end of its accounting year:
- Gross Sales: ₦220,000\text{₦}220,000
- Returns Inwards: ₦10,000\text{₦}10,000
- Opening Inventory: ₦25,000\text{₦}25,000
- Purchases: ₦140,000\text{₦}140,000
- Carriage Inwards: ₦8,000\text{₦}8,000
- Purchases Returns: ₦5,000\text{₦}5,000
- Closing Inventory: ₦30,000\text{₦}30,000

What is the gross profit of Chidubem Trading Store for the year in Naira (₦\text{₦})?

Cevap: 72000 ₦

Cevap

The gross profit earned by Chidubem Trading Store for the accounting year is ₦72,000.
To find gross profit, calculate Net Sales (Gross Sales minus Returns Inwards) and subtract Cost of Goods Sold (Opening Inventory plus Purchases plus Carriage Inwards minus Purchases Returns minus Closing Inventory). Net Sales=₦220,000−₦10,000=₦210,000\text{Net Sales} = \text{₦}220,000 - \text{₦}10,000 = \text{₦}210,000. COGS=₦25,000+₦140,000+₦8,000−₦5,000−₦30,000=₦138,000\text{COGS} = \text{₦}25,000 + \text{₦}140,000 + \text{₦}8,000 - \text{₦}5,000 - \text{₦}30,000 = \text{₦}138,000. Thus, Gross Profit=₦210,000−₦138,000=₦72,000\text{Gross Profit} = \text{₦}210,000 - \text{₦}138,000 = \text{₦}72,000.

Adım Adım Çözüm

1
Calculate Net Sales
Net Sales = ₦210,000
Returns inwards (sales returns) must be deducted from gross sales: ���220,000−₦10,000=₦210,000\text{���}220,000 - \text{₦}10,000 = \text{₦}210,000.
2
Calculate Net Purchases and Goods Available for Sale
Goods Available for Sale = ₦168,000
Add carriage inwards to purchases as a direct expense of bringing goods to the business, and deduct returns outwards (purchases returns): ₦25,000+(₦140,000+₦8,000−₦5,000)=₦168,000\text{₦}25,000 + (\text{₦}140,000 + \text{₦}8,000 - \text{₦}5,000) = \text{₦}168,000.
3
Determine Cost of Goods Sold (COGS)
COGS = ₦138,000
Deduct closing inventory from goods available for sale: ₦168,000−₦30,000=₦138,000\text{₦}168,000 - \text{₦}30,000 = \text{₦}138,000.
4
Compute Gross Profit
Gross Profit = ₦72,000
Subtract Cost of Goods Sold from Net Sales: ₦210,000−₦138,000=₦72,000\text{₦}210,000 - \text{₦}138,000 = \text{₦}72,000.

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