Question

opening stock 20000,sales rupess 120000 closing stock rupees 40000 find out gross profit​

Answer 1

Answer:

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Explanation:

Total sales = 40000+60000=100000

Let cost be 100 so gross profit =33 1/3 on cost, sales = 133* 1/3

Gross profit on sales =33*1/3 / 133*1/3=1/4

Gross profit = 100000*1/4=25000

Cost of goods sold=100000-25000=75000

cost of goods sold= opening stock+purchases-closing stock

75000=20000+70000-closing stock

Closing stock = 15000