Question

calculate gross profit and cost of good sold from the following information net sale 100000 and gross profit 25% on cost

Answer 1

Answer:

Explanation:

25% of 100000 = 25000

therefore:

gross profit  = 25000

the cost of sales = 100000-25000 = 75000

Answer 2

Gross profit = 20,000

Explanation:

Given:

Net sales = 1,00,000

Gross profit = 25% on cost

Cost of goods sold = ?

Gross profit = ?

Computation:

Net sales = Cost of goods sold + Gross profit

Net sales = Cost of goods sold + 0.25 Cost of goods sold

1,00,000 = 1.25 Cost of goods sold

80,000 = Cost of goods sold

Gross profit = Net sales - Cost of goods sold  

Gross profit = 1,00,000 - 80,000

Gross profit = 20,000

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