Question

Calculate net sales and gross profit from cost of goods sold rs 75,0000 gross profit 1/6 of net sales

Answer 1

Explanation:

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Answer 2

Answer:

Net Sales = Rs 90,000

Gross Profit = Rs 15,000

Explanation:

Given :

Cost Of Goods Sold = Rs 75,000

Gross Profit = 1 / 6 of Net Sales

To find :

Calculate Net Sales and Gross Profit

Solution :

Let,

Net Sales = y

Gross Profit = 1 / 6 of y

Cost Of Goods Sold = Net Sales - Gross profit

$\sf{\longrightarrow 75,000 = y \: - \: \dfrac{1}{6} \: of \: y}$

$\sf{\longrightarrow 75,000 = y - \dfrac{1}{6} \:y}$

$\sf{\longrightarrow{75,000=\dfrac{5}{6}y}}$

$\sf{\longrightarrow{75,000 \times \dfrac{6}{5}=y}}$

$\longrightarrow$ 15,000 × 6 = y

$\longrightarrow$ y = 90,000

Net Sales = Rs 90,000

Gross Profit = Net Sales - Cost Of Goods Sold

$\longrightarrow$ 90,000 - 75,000

$\longrightarrow$ 15,000

Gross Profit = Rs 15,000

Therefore,

Net Sales = Rs 90,000

Gross Profit = Rs 15,000