An accountant has established that the gross profit margin for a sole trader business who does not keep records is 20% and that opening and closing inventories were GH 700 and Gh 1,200 respectively . If the purchases during the year amounted to Gh 23,500. What is the sales for the year .

An accountant has established that the gross profit margin for a sole trader business who does not keep records is 20% and that opening and closing inventories were GH 700 and Gh 1,200 respectively . If the purchases during the year amounted to Gh 23,500. What is the sales for the year .

Name: An accountant has established that the gross profit margin for a sole
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Description: An accountant has established that the gross profit margin for a sole trader business who does not keep records is 20% and that opening and closing inventories were GH 700 and Gh 1,200 respectively . If the purchases during the year amounted to Gh 23

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 15BEA: Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000....

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