Gross profit on sales 25% cogs 125000 sales will be
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Net sales = 1,66,667
Explanation:
Given:
Gross profit rate = 25% ( on sales )
Cost of goods sold = 1,25,000
Net Sales = ?
Computation:
Net Sales = Cost of goods sold + Gross Profit
Net Sales = Cost of goods sold + 25% of Net sales
Net Sales = Cost of goods sold + 0.25 Net sales
Net Sales = 1,25,000 + 0.25 Net sales
Net Sales - 0.25 Net sales = 1,25,000
0.75 Net sales = 1,25,000
Net sales = 1,25,000 / 0.75
Net sales = 1,66,667
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