National Retail Stores has identified the following data from its accounting records for the year ended 31st

Question:

National Retail Stores has identified the following data from its accounting records for the year ended 31st December: sales £1,100,000; purchases £650,000; expenses £275,000. It had an opening stock of £150,000 and a closing stock of £200,000. Based on this information, the gross profit and operating profit/loss is: b) a gross profit of £500,000 and an operating profit of £225,000
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Question Posted: