The following data relates to the year ended 31 December 2019.
|
£ |
|
|
Sales |
99,200 |
|
Purchases |
65,100 |
|
Returns inwards |
1,190 |
|
Returns outwards |
550 |
|
Carriage inwards |
1,975 |
|
Opening inventory |
11,230 |
|
Closing inventory |
13,460 |
The trading account would appear as follows:
Trading account for year ended 31 December 2019
|
£ |
£ |
|
|
Sales |
99,200 |
|
|
Less Returns inwards |
1,190 |
|
|
Net turnover |
98,010 |
|
|
Less Cost of goods sold: |
||
|
Opening inventory |
11,230 |
|
|
Add Purchases |
65,100 |
|
|
76,330 |
||
|
Add Carriage inwards |
1,975 |
|
|
78,305 |
||
|
Less Returns outwards |
550 |
|
|
77,755 |
||
|
Less Closing inventory |
13,460 |
64,295 |
|
Gross profit |
33,715 |