Question

63. Find out Gross profitSales
Rs1,200 Opening stock Rs 150
Purchases Rs 400 Closing stock
Rs220 Direct expenses Rs 70
Rs 880
O Rs 800
Rs 780
Rs 980​

Answer 1

Answer:

Gross Profit = Rs 800

Explanation:

Given :

Sales = Rs 1,200

Opening stock = Rs 150

Purchases = Rs 400

Direct expenses = Rs 70

Closing stock = Rs 220

To find :

Gross profit

Solution :

Gross profit = Net Sales - Cost of Goods Sold

★ Find COGS (Cost of Goods Sold) :

Cost of Goods Sold =

⇒ Opening stock + Purchases + Direct expenses - Closing stock

⇒ 150 + 400 + 70 - 220

400

★ Cost of Goods Sold = Rs 400

_________________________

★ Gross profit = Net Sales - Cost of Goods Sold

⇒ 1,200 - 400

⇒ 800

⇒ Gross profit = Rs 800

Therefore,

Gross Profit = Rs 800

Answer 2

Answer:-

$\small \bf \underline {Given:}$

Net sales = ₹1,200

Opening stock = ₹150

Purchases = ₹400

Direct expenses = ₹70

Closing stock = ₹220

$\small \bf \underline{To \: find:}$

We need to find the gross profit

$\small \bf \underline{Solution:}$

» Gross Profit = Net Sales - Cost of Goods Sold

★Net sales = ₹1, 200

★COGS(Cost of Goods Sold) = Opening stock + Purchases + Direct expenses - Closing stock

= ₹150 + ₹400 + ₹70 - ₹220

= ₹620 - ₹220

= ₹400

Gross Profit = ₹1, 200 - ₹400

= ₹800

Answer: The gross profit = ₹800

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