Calculate gross profit when
Total purchases during the year are 8,00,000
Return outward 20,000
Direct expenses *60,000
2/3 of the goods are sold for 6,10,000
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Answer:
Cost of Goods Sold
= Total Purchases - Return Outwards + Direct Expenses
= Rs. 8,00,000 - Rs. 20,000 + Rs. 60,000
= Rs. 8,40,000
A.
2
3
rd goods sold for Rs. 6,10,000
B. Cost of
2
3
rd goods =
R
s
.
8
,
40
,
000
×
2
3
= Rs. 5,60,000
C. Gross profit
= A - B
= Rs. 6,10,000 - Rs. 5,60,000
= Rs.50,000
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