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………………...
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 the figures to US dollars.)

Net sales revenue
Cost of goods sold
Gross profit

Inventory Sales 400000
Less Sales Discounts (4000)
Less Sales Returns (8000)
Net Sales Revenue 388000

Less COS

Opening Stock 20000
Add Purchases 250000
Less Purchase Discounts (3000)
Less Purchase Returns (7000)
260000
Less Closing Stock (30000)
Cost Of Sales 230000

Gross Profit 158000

Less Freight (8000)

Net Gross Profit 150000