What is the net profit reported for the month of october

Reference no: EM133612036

Question: You work for a wholesale firm which distributes a single product. $57,600 is the value for opening inventory (1 Oct 2020). Closing inventory valuation conducted on 31 October 2020, $80 640 Purchases during the month were: 9 October 1,140 units @ 145 each 15 October 1,310 units @ 150 each 24 October 620 units@ 155 each Sales during the month were: Date Number of items selling price per item $ 12 October 1,040 205 21 October 1,840 220 The other cost besides the purchases were: Wages of staff $44,700; Premises purchased $42,750; Administrative expenses $13,620; Selling and marketing costs $17,890; Cost and freight for purchased inventory $ 3,750; Carriage outwards $4,120 and Depreciation charges $11,250 What is the net profit reported for the month of October 2020 based on the data provided above?

Reference no: EM133612036

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