Explore BrainMass

Explore BrainMass

    Les Fleurs Accounting Computations

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Les Fleurs, a boutique in Paris, France

    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

    © BrainMass Inc. brainmass.com March 4, 2021, 7:44 pm ad1c9bdddf
    https://brainmass.com/business/financial-accounting-bookkeeping/les-fleurs-accounting-computations-119589

    Attachments

    Solution Preview

    Les Fleurs, a boutique in Paris, France

    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.... ...

    Solution Summary

    This solution is comprised of a detailed explanation to compute the following for Les Fleurs during 20X2: net sales revenue, cost of goods sold and gross profit. It is also provided in Word format.

    $2.49

    ADVERTISEMENT