The following information has been extracted from the trial balance of a business: Closing stock was $3000
Question:
The following information has been extracted from the trial balance of a business:
Closing stock was $3000 more than opening stock.
One third of the wages was charged to cost of sales in the Trading Account. What was the gross profit?
A. $30 000
B. $33 000
C. $36 000
D. $37 000
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Step by Step Answer:
To calculate the gross profit we need to use the formula Gross Profit Sales C...View the full answer
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