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Les Fleurs, a boutique in Paris, France, had the following

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Les Fleurs, a boutique in Paris, France, had the following accounts in its accounting records at December 31, 20X2 (amounts in Euros, denoted as "E")

Purchases………………...
     E250,000      Freight In………………      E8,000
Sales discounts………….      4,000      Purchase returns……..      7,000
Inventory           Sales………………….      400,000
December 31, 20X1…..      20,000      Purchase discounts….      3,000
December 31, 20X2…..      30,000      Sales returns………….      8,000

Compute the following for Les Fleurs during 20X2: (Do not convert the figures to US dollars.)

   1. Net sales revenue
   2. Cost of goods sold
   3. Gross profit
Submitted: 8 years ago.
Category: Homework
Expert:  Neo replied 8 years ago.
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