Question

Opening stock 30000
Purchase 140000
Closing stock 20000
Profit@25%on sale price
Calculate sales

Answer 1

Explanation:

Cost of Goods Sold = Opening stock + Purchase - Closing stock

30000 + 140000 - 20000

150000

COGS = 150000

Profit 25%on sale price

Assume,

Net Sales= y

COGS = Sales - Gross profit

150000 = y - 25% on sale price

150000 = y - 25y/100

150000 = 75y/100

y = 150000×100/75

y = 15000000/75

y= 200000

Net Sales = 200000

G.P. = 25% on Sales = 50000

Hence,

Net Sales = 200000

Answer 2

Answer:

Net Sales = 2,00,000

Explanation:

Opening stock 30000

Purchase 140000

Closing stock 20000

To find :

Calculate Sales

Solution :

Cost of Goods Sold = Opening stock + Purchase - Closing stock

$\longrightarrow$ 30,000 + 1,40,000 - 20,000

$\longrightarrow$ 1,70,000 - 20,000

$\longrightarrow$ 1,50,000

Cost of Goods Sold = 1,50,000

Profit 25 % on Sale Price

Let,

Net Sales = x

Net Sales = Cost of Goods Sold + Gross Profit

Cost of Goods Sold = Net Sales - Gross Profit

$\longrightarrow$ 1,50,000 = x - 25 % of x

$\longrightarrow \: 1,50,000 = x - \dfrac{25}{100}x$

$\longrightarrow \: 1,50,000 = x \: - \: 0.25$

$\longrightarrow$ 1,50,000 = 0.75x

$\longrightarrow$ x = 1,50,000 / 0.75

$\longrightarrow$ x = 2,00,000

Net Sales = 2,00,000

Gross Profit 25% on Sales = 50,000

$\longrightarrow$ 2,00,000 × 25/100 = 50,000

∴ Net Sales = 2,00,000