Question

9. Calculate Cost of Goods Sold and Gross Profit : (in Rs)
Opening stock 40,000
Purchases 65,000
Expenses on Purchases 5,000
Sales 2,50,000
Expenses on Sales 10,000
Closing Stock 30,000

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Answer 1

Answer:

Cost of Goods

40000+65000+5000 = 110000

Sales = 250000-10000= 240000

Closing = 30000

So, cost at the day = 110000-30000 = 80000

Profit = 240000 - 80000

= 160000

Profit % = 16/8*100 = 200 %