The following information relates to the business of KK Trader for the year ended 31/12/2022.
Opening stock 4,000,000
Debtors 1,200,000
Creditors 1,000,000
Bank 2,600,000
Cash 1,800,000
Closing Stock 3,200,000
Sales 8,900,000
Purchases 5,700,000
Wages 100,000
Purchases Returns 200,000
Expenses 1,400,000
Required:
Calculate the following:
1. Net Purchases
2. Cost of Goods available for sale
3. Cost of Sales
4. Gross Profit
5. Net Profit
6. Rate of Stock Turnover and interpret the results
7. Mark up and interpret the results
8. Margin and interpret the results