187. Following information is available in respect
of a particular company:
Total Sales and Total Cost in 2016
Rs. 50,000 and Rs. 60,000.
Total Sales and Total Cost in 2017
Rs. 1,50,000 and Rs. 1,20,000.
How much amount of sale required to earn
a profit of Rs. 50,000?
Answers
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Answer:
Case 1
Credit Sales = 3,00,000
Cash sales = 25% of Credit Sales
Total Sales = Cash Sales + Credit Sales
= 3,00,000 + 75,000 = 3,75,000
Gross Profit = 20% on Sales
Cost of Goods Sold = Total Sales − Gross Profit
= 3,75,000 − 75,000 = 3,00,000
Case 2
Let Total Sales = x
Total Sales = Cash Sales + Credit Sales
Gross Profit = Sales − Cost of Goods Sold
Explanation:
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