The following data were taken from the accounts of Delhi


Question Description:

20

The following data were taken from the accounts of Delhi 1 answer below » The following data were taken from the accounts of Delhi Hardware, a small retail business. Determine the gross profit. Sales ………………………………………………….…. $113,500 Sales returns and allowances …………………………………. 800 Sales discounts ………………………………………………… 500 Merchandise inventory, January 1 …………………………. 34,000 Purchases during the period ……………………………….. 76,000 Purchases returns and allowances during the period ……….. 4,000 Purchases discounts taken during the period ……………….. 3,000 Freight-in on merchandise purchased during the period ……. 1,500 Merchandise inventory, December 31 ……………………… 30,000 Oct 11 2013 07:53 AM

Answer

20