Question

compute gross profit from the following information sale for the year rs 200000 cost of good sold rs 150000 direct expenses rs 40000
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Answer 1

Answer:

This can be represented by below equation:

Opening Stock+Purchases-closing stock=Cost of Goods sold

Putting the available information in the equation:

Rs.60000+Purchases-Rs.40000=Rs.150000

Rs.60000-Rs.40000+Purchases=Rs.150000

Rs.20000+Purchases=Rs.150000

Purchases=Rs.150000-Rs.20000

Purchases =Rs.130000.

Explanation:

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