The accounting records of Hunton Ltd. show the following data OOS Inc. uses a perpetual...
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The accounting records of Hunton Ltd. show the following data OOS Inc. uses a perpetual inventory system (and FIFO) and has a beginning inventory, as at April 1, of 150 tents. This consists of 50 tents purchased in February at a cost of $210 each and 100 tents purchased in March at a cost of $225 each. During April, the company had the following purchases and sales of tents: 4) Prepare income statement for the period. What is its Revenue (Sales)? 5) What is its Gross Profit? 6) What is its Gross Profit % ? 4) 5)
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