Part 2
QS 5-1Components of income for a merchandiser LO1
Referring to the format presented in Exhibit 5.2, calculate gross profit and the profit or loss for each of the
following.
A
B
C
D
E
Net sales
$14,000
$102,000
$68,000 $540,000 $398,000
Cost of goods sold
8,000
64,000
31,000 320,000 215,000
Operating expenses
9,000
31,000
22,000 261,000 106,000