if sales are 2500 and the rate of g.p on cost of goods sold is 25 percent , then cost of goods sold will be??
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Answer:
Total Sales value =2000
Gross Profit =25 % of Sales
= 25/100x2000
= 500 Gross Profit
Cost of Goods = Total Sales - Gross Profit
=2000-500
Cost of Goods =1500
hope it helps you
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Cost of goods sold = 2,000
Explanation:
Given:
Sales during the year = 2,500
Gross profit = 25% of Cost of goods sold
Cost of goods sold = ?
Calculation of Cost of goods sold:
Sales during the year = Cost of goods sold + Gross profit
Sales during the year = Cost of goods sold + 0.25 Cost of goods sold
2,500 = 1.25 Cost of goods sold
Cost of goods sold = 2,000
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