Financial items of an organization
Les Fleurs, a boutique in Paris, France, had the following
accounts in its accounting records at December 31, 2002 (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 2002: (Do not
convert the figures to US dollars.)
Net sales revenue
Cost of goods sold
Gross profit
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