Wang Departement Store

Income Statement ( Partial )

Nov 30, 2017
Sales
Sales Revenue £1.000.000
Sales Returns and Allowance (£25.000)
Net Sales £975.000

Beginning Inventory £42.000

Purchases
Purchases £585.000
Purchase Returns and Allowance (£2.900)
Purchase Discounts (£5.100)
(£8.000)
Net Purchases £577.000
Freight-in £7.500
Cost of Goods Purchased £584.500
Ending Inventory (£54.600)
Cost of Goods Sold £571.900
Gross Profit £403.100