(a) What is turnover?

(b) The following information relates to Mrs. Lulu, a trader. 

Goods	selling price  N	cost price N	selling expenses N
Buckets Boxes Bournvita Lace material	4,000 5,000 6,000 12,000	3,500 4,000 5,500 10,500	400 250 300 1,000

(i) Calculate the gross profit percentage on each item. (ii) Calculate the net profit on each item.