Question

Find out gross profit if:
Adjusted purchase=Rs 2,00,000
Manufacturing expenses=Rs 20,000
Import duty=Rs 12,000
Export duty=Rs 8,000
Travelling expenses=Rs 18,000
Other factory expenses=Rs 12,000
Closing stock=Rs 20,000
Sales=Rs 3,04,000
Sales return=Rs 4,000.
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Answer 1

Answer:

gross profit = net sale - cost

Cost of goods sold = 200000+20000+12000+12000= 244000

Net sale = sale - sale return

=304000-4000=300000

Gross profit = 300000-244000=56000

Answer 2

Gross profit = Net sale - Cost

Cost of goods sold

= 200000+20000+12000+12000

= 244000

Net sale = sale - sale return

= 304000-4000

= 300000

Gross profit = 300000-244000 = 56000