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    Accounting for Merchandising Organizations

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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

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    https://brainmass.com/business/accounting/accounting-for-merchandising-organizations-76065

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    Hello

    Thanks for directing this posting to me. Here is the excel file ...

    Solution Summary

    Ms excel file contains all the details including steps and solution and formula for calculating net sales revenue , cost of goods sold and gross profit.

    $2.19

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