Question

calculate gross profit and cost of goods sold from the following informatio net sales 100000 gross profit 25%

Answer 1

Answer:

gp=25000

cost=75000

Explanation:its already given that 25 %is the gp and the remaining should be the  cost of goods sold!!!!

Answer 2

80,000 = Cost of goods sold

20,000 = Gross profit

Explanation:

Given:

Net sales = 1,00,000

Gross profit rate (On cost) = 25%

Cost of goods sold = ?

Gross profit = ?

Computation:

Net sales = Gross profit + Cost of goods sold

Net sales = 25% of  Cost of goods sold + Cost of goods sold

1,00,000 = 0.25Cost of goods sold + Cost of goods sold

1,00,000 = 1.25 Cost of goods sold

1,00,000 / 1.25 = Cost of goods sold

80,000 = Cost of goods sold

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

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

20,000 = Gross profit

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