A firm commenced business on 1st January 2012 and purchased goods costing Rs.90000 during the year.A sum of Rs.6000 was spent on freight inwards.at the end of the year the cost of goods still unsold is Rs.12000.Sales during the year is Rs.120000 the gross profit earned by the firm is
Answers
Answered by
0
gross profit= sales - cost of goods sold
cogs= 96000 +6000 - 12000
=84000
gross profit =. 120000-84000
=36000
Similar questions