calculate profit if : cash sales =40,000 sales return =3,000 credit sales=30,000 cost of goods sold =50,000 (Ans.profit=17,000 )
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Answer:
cash sales =40,000 sales return =3,000 credit sales=30,000 cost of goods sold =50,000 (Ans.profit=17,000 )
Explanation:
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Gross profit = ₹ 17,000
Explanation:
Given :
Cash sales : ₹40,000
Credit sales : ₹30,000
Sales return : ₹3,000
Cost of goods sold : ₹50,000
Profit = ??
Net Sales = (Cash sales + Credit sales) - Sales return
= (40,000 + 30,000) - 3,000
= 70,000 - 3,000
Net Sales = ₹ 67,000
Gross profit = Net Sales - Cost of goods sold
= 67,000 - 50,000
= 17,000
Gross profit = ₹ 17,000
Hence, Gross profit = ₹ 17,000.
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