Question

net sales during the year 2012 is 8,85,000 gross profit is 25 present on sales. find the cost of goods sold ?​

Answer 1

Answer:

net sales= 885000

gross profit on sale= 25%

so gross profit is = 885000*25/100= 221250

cost of goods sold= net sale- gross profit

= 885000-221250

= 663750