(a) If sales are EUR 24,000 and cost of sales is EUR 18,000, then what is the gross profit margin?
(b) Sales are EUR 30,000 and gross profit margin is 20 per cent. What is cost of sales?
(c) BiBi SpA has beginning inventory of EUR 5,000 and ending inventory of EUR 20,000. The purchases of inventories during the period are EUR 1,282,000. Compute the ‘cost of sales' amount for the income statement.