Question

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​

Answer 1

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