For what purpose is the report used? What improvement could be made in this report based upon the reporting principles?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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For what purpose is the report used? What improvement could be made in this report based upon the reporting principles?

example of
report is shown below:
PORTLAND HARDWARE
Sales and Product Gross Profit
October 12, 2012
Units Sold
Gross Profit
This
Last
Incr.
This
Last
Incr.
Item ID
Month
Description
Garden
Month
(Decr.)
Month
Month
(Decr.)
900
23
(30)
(2)
G281
$2,700
$2,500
$200
(5)
Hose
870
Sprinkler
Lawn
G300
21
50
55
G400
Mower
30
28
1,200
1,400
(200)
Locking
Handle
Cabinet
н102
424
200
224
8,480
4,000
4,480
Hinges
Door Hinge
H201
92
103
(11)
47
37
45
(8)
15
H202
397
350
340
325
Exhibit 3. Sample Gross Profit by Product Report
Transcribed Image Text:example of report is shown below: PORTLAND HARDWARE Sales and Product Gross Profit October 12, 2012 Units Sold Gross Profit This Last Incr. This Last Incr. Item ID Month Description Garden Month (Decr.) Month Month (Decr.) 900 23 (30) (2) G281 $2,700 $2,500 $200 (5) Hose 870 Sprinkler Lawn G300 21 50 55 G400 Mower 30 28 1,200 1,400 (200) Locking Handle Cabinet н102 424 200 224 8,480 4,000 4,480 Hinges Door Hinge H201 92 103 (11) 47 37 45 (8) 15 H202 397 350 340 325 Exhibit 3. Sample Gross Profit by Product Report
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