i know that this will be very simple for some people and i come across these sort of questions quite regularly in multiple choice but i have no idea how to do them, and no doubt there will be one in the exam tomorrow, so can somebody please fill me in on how to do this question;
observe the following table;
sales; $465 000
opening stock; $110 000
purchases; $53 000
closing stock; $68 000
expenses; $178 000
what is the net profit of the business
a)$192 000
b)$56 000
c)$370 000
d)287 000
observe the following table;
sales; $465 000
opening stock; $110 000
purchases; $53 000
closing stock; $68 000
expenses; $178 000
what is the net profit of the business
a)$192 000
b)$56 000
c)$370 000
d)287 000