can any one answer these examples 2 and 3.! On 1 April Cash and Carry Co purchas

Question

can any one answer these examples 2 and 3.!

On 1 April Cash and Carry Co purchases for resale 2,000 tins of beans at a cost of 0 05 a tin The selling price is 0 08 per tin During the month of April 1,000 tins are sold What is the profit for the month? Frample 3 At the start of January, Henry has an opening inventory of product X: 1,000 units at 10 per unit. During January, he purchased 4,000 units of product X at 10 per unit Sales of product X for the period were 4,200 units at a selling price of 15 per unit What is the gross profit for the month?

Explanation / Answer

Example 2 Sales (1000 tins x €0.08 per tin) € 80 Cost of sales (1000 tins x €0.05 per tin) € 50 Gross Profit € 30 Example 3 Sales (4200 units x €15 per unit) € 63,000 Cost of goods sold (4200 units x €10 per unit) € 42,000 Gross Profit € 21,000

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