The following are the balances of Kantupeni Traders as at 31​ st​  December 2007. 

Question

Closing Stock ­ Tshs. 32,500/=

Purchases ­ Tshs. 25,000/=

Expenses ­ Tshs. 8,000/=

Sales ­ Tshs. 35,000/=

Opening stock ­ Tshs. 28,000/=

 

Calculate:

(a) Gross profit

(b) Net profit

(c) The rate of stock turn

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