Question

Find the profit from following:
Cash sales:₹40000
Credit sales:₹30000
Sales return:₹3000
Cost of goods sold:₹50000

Answer 1

Answer:

below

Explanation:

40000+30000-3000+50000=profit

117000

Answer 2

Explanation:

Cash sales : ₹40,000

Credit sales : ₹30,000

Sales return : ₹3,000

Cost of goods sold : ₹50,000

Profit = ??

Net Sales = (Cash sales + Credit sales) - Sales return

= (40,000 + 30,000) - 3,000

= 70,000 - 3,000

Net Sales = ₹ 67,000

Gross profit = Net Sales - Cost of goods sold

= 67,000 - 50,000

= 17,000

Gross profit = ₹ 17,000

Hence, Gross profit = ₹ 17,000.