You work for a wholesale firm that distributes a single product. $57,600 is the value for opening
Question:
You work for a wholesale firm that distributes a single product. $57,600 is the value for opening inventory (1 Oct 2020). Closing inventory valuation conducted on 31 October 2020, $80 640
Purchases during the month were:
9 October 1,140 units @ 145 each
15 October 1,310 units @ 150 each
24 October 620 units@ 155 each
Sales during the month were:
Date Number of items selling price per item
$
12 October 1,040 205
21 October 1,840 220
The other cost besides the purchases were: Wages of staff $44,700; Premises expenses$42,750;
Administrative expenses are $13,620; Selling and marketing costs $17,890; Carriage inwards $ 3,750; Carriage outwards $4,120 and Depreciation $11,250
What is the net profit reported for the month of October 2020 based on the data provided above?
Exclude $, and space from your answer
example $ 430, 000 should be inputted as 430000
Expert Answer:
