Question

Calculate Net Sales and G.P. from the following:
Cost of Goods Sold
G.P.
4,50,000
25% on sales​

Answer 1

Answer:

Gross profit on sales is given Amount ofsale isnot given so we assume it X

cost of goods sold = Net sales. - gross profit

450000 =. X - X×25/100

450000= X -X \4

450000= 4X-X/4

450000= 3X/4

3X = 1800000

X = 600000

Net sales = 600000

Gross profit = Net sales - cost of goods sold

= 600000-450000

= 150000

Answer 2

Net Sales = Rs 6,00,000

Gross Profit = Rs 1,50,000

Explanation:

Given :

Cost of Goods Sold = Rs 4,50,000

Gross Profit = 25% on Sales

To find :

Calculate Net Sales and G.P.

Solution :

Gross Profit = Net Sales - Cost Of Goods Sold

Let,

Net Sales = x

Gross Profit = Net Sales - Cost Of Goods

⇒ 25 % of x = x - 4,50,000

⇒ 0.25 x = x - 4,50,000

⇒ 4,50,000 = x - 0.25 x

⇒ 4,50,000 = 0.75 x

⇒ x = 4,50,000 / 0.75

⇒ $\sf{x = \dfrac{4,50,000}{0.75}}$

⇒ x = 6,00,000

Net Sales = Rs 6,00,000

____________________________

Gross Profit = Net Sales - Cost Of Goods

Sold

⇒ 6,00,000 - 4,50,000

⇒ 1,50,000

Gross Profit = Rs 1,50,000

___________________________

★ Verification :

G.P. = 25 % on sales

Gross Profit = 25% on Sales

Net Sales = Rs 6,00,000

⇒ 25 % of 6,00,000

⇒ 1,50,000

Therefore,

Net Sales = Rs 6,00,000

Gross Profit = Rs 1,50,000