ok so she is selling the card for .75 but makes a profit of .35
.75-.35=.4 (what wasn't profit) divid 42 by .4
42/.4=105+42 (have to add in profit portion) =$147 Gross income
Inventory and purchases are used to determine the last journal entry under the periodic method.
<h3>What is a Journal?</h3>
This is defined as a detailed account that records all the financial transactions of a business.
This is however done so as to be used for future reconciling of official accounting records. The periodic method has the Inventory and purchases as determinants in last journal entry of the accounting period.
Read more about Journals here brainly.com/question/19602610
