Accounting 0452 · IGCSE · Clubs and societies

Clubs and societies — practice question

Par Golf Club operated a shop that sold golfing equipment to its members. The treasurer supplied the following figures for the shop for the year ending 31 December. Sales of golfing equipment: 5300 Opening inventory of golfing equipment: 400 Closing inventory of golfing equipment: 450 Purchases of golfing equipment: 2700 Returns from customers: 200 Carriage on purchases: 100 What was the shop’s gross profit for the year?

  • A$2250
  • B$2350
  • C$2450
  • D$2750

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