Department K Y
Opening stock #2,500 #800
Purchases #120,000 #100,000
Sales #180,000 #200,000
Salaries #8,000 #30,000
Closing stock #3,000 #1,500
Rate expenses of #1,500 are apportioned in the ratio 1:2.
What is the net profit of Y?
- #52,000
- #68,300
-
#68,800
- #69,300
The correct answer is: C
Explanation
opening stock 800
purchase 100,000
100,800
less; closing stock 1500 99,300
Salaries 30,000
Rates(1:2 of 1500= 1/3x1500) 500 30500
68,800