Homework Answers
Answer:
Option 3rd is correct. i.e $360,000.
| Calculation of net profit | |
| Amount($) | |
| Sales | 18,80,000 |
| Add: Ending inventory | 2,40,000 |
| 21,20,000 | |
| Less: Opening Inventory | 2,80,000 |
| Less: Purchases | 7,20,000 |
| Less: Freight | 60,000 |
| Less: Oprating expenses | 7,00,000 |
| Net Profit | $ 3,60,000 |
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