Question

Q. 90. (A). Calculate Gross Profit Ratio from the following figures :-
Opening Inventory 40,000; Closing Inventory 360,000; Purchases 37,10,000;
Return Outwards 310,000; Wages 380,000; Cash Revenue from Operations
3,45,000; Credit Revenue from Operations 6,30,000; Return Inward 25,000.​

Answer 1

Answer:

Trading A/c

Particulars. ₹ Particulars. ₹

To opening By return o/w 3,10,000

inventory. 40,000. By sales:

To purchases. 3,70,000. cash 3,45,000

To wages. 3,80,000. credit 6,30,000

To return i/w. 25,000 By closing

To Gross profit. 8,30,000 inv. 3,60,000

note:

Purchase amount is wrong i think, so assumed 3,70,000 if in question amount is correct it will show gross loss.

Now, Gp ratio = Gross profit/Revenue from operation*100

So,

8,30,000/9,75,000*100

= 85.12%

keep learning...