Mindoro Enterprises

Statement of Cost of Goods Sold

August, 2017
Merchandise Inventory – Beginning P0.00
Purchases P157,000.00
Less: Purchase Discount 2,750.00
Total P154,250.00
Add: Freight In 450.00
Net Purchases 154,700.00
Total Goods Available for Sale P 154,700.00
Less: Merchandise Inventory – End 63,000.00
Cost of Goods Sold P 91,700.00

Mindoro Enterprises
Gross Profit Computation
August, 2017
Sales P 118,000.00
Less: Sales Discount 3,150.00
Net Sales P 114,850.00
Less: Cost of Sales 91,700.00
Gross Profit P 23,150.00