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    Les Fleurs

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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/les-fleurs-71402

    Solution Preview

    1. Net sales revenue
    Net sales = sales - Sales discounts- Sales returns
    = 400,000- 4,000-8,000 = E ...

    Solution Summary

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

    $2.19

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