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Les Fleurs, a boutique in Paris, France had the following accounts in its accounting records at December 31, 20X2 (amounts in Euros as "E")...

Les Fleurs, a boutique in Paris, France had the following accounts in its accounting records at December 31, 20X2  (amounts in Euros 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 20X2: (Do not convert figures to US $)
      1.  Net sales revenue
       2. Cost of goods sold
       3.  Gross profit
     Response should be two - three paragraphs long.

This question was asked on Apr 13, 2010.

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