Question

calculate gross profit when:. cost of goods sold 800000, gross sales 975000, sales return 15000​

Answer 1

Answer:

1,60,000 ₹

Explanation:

Gross Profit = Net Sales - Cost of Goods Sold

Gross Profit = ₹ (960000 - 800000)

= ₹1,60,000

Note :-

Net Sales = Gross Sales - Sales Returns

= ₹(975000 - 15000)

= ₹960000

Answer 2

Gross Profit will be Rs. 1,60,000.

Explanation:

Given :

• Cost of Goods Sold = 8,00,000
• Gross Sales = 9,75,000
• Sales Return = 15,000

To find :

• Calculate Gross Profit

Solution :

★ Gross Profit = Net Sales - Cost of Goods Sold

• Net Sales = Sales - Sales Return

= 9,75,000 - 15,000

= 9,60,000

Net Sales = 9,60,000

Cost of Goods Sold = 8,00,000

★ Gross Profit = Net Sales - Cost of Goods Sold

= 9,60,000 - 8,00,000

= 1,60,000

Gross Profit = Rs. 1,60,000

Therefore, Gross Profit will be Rs. 1,60,000.