Find out merchandise cost gross profit and net income from the following information
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correct answer is c
Rs . 3, 00, 000
closing stock = ( Opening stock + purchase + gross profit) - sales
= ( 1,00,000 + 6,00,000+1,00,000 ) - 5,00,000
= 8,00,000 - 5,00,000
= 3,00,000
working note :- calculation of grass profit
if Cost is 100 grass profit is 25% of cost then sale will be grass profit + cost
Hence 100+25= 125
therefore ,
grass profit = 25/125 × 5,00,000
= 1,00,000
Explanation:
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