Question

From the following information calculate Gross profit and Sales:

Opening stock Rs. 1,50,000; Net Purchase Rs. 3,00,000; Purchase return Rs. 10,000; Carriage Rs.

50,000 and closing stock Rs. 60,000. Gross profit is 1/5 on sales. (1)​

Answer 1

Answer:

Calculation of Gross Profit Ratio: Credit Sale = Rs 5,00,000 Rate of Cash Sale to Credit ...

Explanation:

1. .