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

Answer 2

Answer:

Cost of Goods Sold = 6,63,750

Explanation:

Given :

• Net Sales during the year 2012 = 8,85,000
• Gross Profit = 25 % on Sales

To find :

• The Cost of Goods Sold

Solution :

Gross Profit is 25 % on Sales

According to the Question :

Net Sales = 8,85,000

So,

Gross Profit = $8,85,000 \: \times \: \dfrac{25}{100}$

$\longrightarrow$ 2,21,250

Gross Profit = 2,21,250

Gross Profit = Net Sales - Cost of Goods Sold

$\longrightarrow$ 2,21,250 = 8,85,000 - Cost of Goods Sold

$\longrightarrow$ Cost of Goods Sold = 8,85,000 - 2,21,250

$\longrightarrow$ Cost of Goods Sold = 6,63,750

Cost of Goods Sold = 6,63,750

Therefore,

Cost of Goods Sold = 6,63,750