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Les Fleurs, a boutique in Paris, France

Les Fleurs, a boutique in Paris, France, had the following accounts in its accounting records at December 31, 20X2 (amounts in Euros, denoted as "E")
 
Purchases………………... E 250,000         Freight In……………… E 8,000
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
Administrative Expenses 20,000

                               Balance Sheet - December 31, 20X1
 Cash                                   10,000
Inventory                              20,000
Owner's Equity                                    30,000

Compute the following for Les Fleurs during 20X2: (Do not convert the figures to US dollars.)
Net sales revenue
Cost of goods sold
Gross profit
Compute the following for Les Fleurs during 20X2: (Do not convert the figures to US dollars.)

1. Net sales revenue
2. Cost of goods sold
3. Gross profit
4. Net income
5. Balance sheet, December 31, 20X2
6. Statement of Owner's Equity, December 31, 20X2
 
File name: Les-Fleurs-a-boutique-in-Paris-2.doc File type: application/msword Price: $6

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