Question

Calculate the gross profit and cost of goods sold, cost of revenue from operations and

closing stock from the following information. (5)

Net Sales ₹ 9,00,000

Gross Profit is 20% on cost.

Opening Stock 1,20,000

Net Purchases 1,50,000

Carriage Inwards 30,000

Carriage Outward 25,000​

Answer 1

Answer:

G.P. = 1,50,000 ; Cost of Goods Sold = 7,50,000 ; Closing Stock = 4,50,000