You were given the following data for AGCAOILI Merchandising Company as of June 30, 2021:
Sales - P127,500. Purchases (Merchandise) - P57,000 Freight In - P5,000 Taxes and Licenses - P900 Communication Expense - P300 Heat, Light, and Water - P1,240 Store Supplies Expense - P1,180 Office Supplies Expense - P730 Miscellaneous Expense - P2,090
QUESTIONS: 1. How much is the cost of sales? 2. What is the margin or gross profit? 3. How much is the gross profit rate? 4. How much is the operating expenses? 5. How much is the net profit?
