At the beginning of the year, the inventory of a convenience store was 189,950. The purchases made during the year amounted to 90,460.00. the ending inventory wqs 86,780. its salary expenses amounted to 325,450.00, and its rental expense was 420,000. The store owner also collected 135,200 for utilities. the store also received sales returns worth P50,000. The total sales of the convenience store was p1,875,500. what is the net profit/loss of the convenience store?

At the beginning of the year, the inventory of a convenience store was 189,950. The purchases made during the year amounted to 90,460.00. the ending inventory wqs 86,780. its salary expenses amounted to 325,450.00, and its rental expense was 420,000. The store owner also collected 135,200 for utilities. the store also received sales returns worth P50,000. The total sales of the convenience store was p1,875,500. what is the net profit/loss of the convenience store?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...

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