Calculate the Gross Profit/ Gross Loss :- Purchase A/C Rs. 15,500, Sales A/C Rs.30,000 , Carriage inward Rs. 1,200, Opening stock Rs, 5,000 Purchase Return Rs. 500, Closing stock Rs. 18,000.
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Explanation:
os +(purchase -purchase return) +carriage inward -sales -closing stock
5000 + 15000 + 1200 - 30000- 18000
= -26800
gross profit =26800
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