7. Calculate Gross profit Ratio from the following figures: Sales Rs.10,00,000 Sales Return Rs.1,00,000 Opening Stock Rs.2,00,000 Purchases Rs.6,00,000 Purchase returns Rs.1,50,000 Closing Stock Rs.65,000
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Answer:
Explanation:
Gross Profit Ratio =
\dfrac{Gross \: Profit}{Net \: Sales} \: \times \: 100
NetSales
GrossProfit
×100
Net Sales = Sales - Sales Return
\longrightarrow⟶ 10,00,000 - 1,00,000
\longrightarrow⟶ 9,00,000
Net Sales = Rs. 9,00,000
Cost of Goods Sold = 5,85,000
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