Question

From the following information, calculate Gross Profit and Operating
profit for the year ending 31st March 2016.
Opening Stock
1,00,000
Net Sales
24,00,000
Net Purchases
12,00,000
Direct expenses
1,20,000
Operating expenses
2,20,000
Closing Stock
1,40,000
plz solve and send the pic​

Answer 1

Answer:

Cost of goods sold = opening stock +net purchases +direct expenses -         closing stock

                                =100000+1200000+120000-140000

                                =1280000

Gross profit = net sales - cost of goods sold

                    =2400000-1280000

                    =1120000

Operating cost = cost of goods sold+operating expenses      

                         =1280000+220000

                         =1500000

Operating profit = net sales-operating cost      

                           =2400000-1500000

                           =900000

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