Sales during the year ended 31st March ,2021 was 12,00,000 and return inward was 2,00,000.Gross profit is 25% on cost .Find out Gross Profit and Cost of goods sold.
Answers
Answered by
6
Step-by-step explanation:
solution :
Suppose,
cost = 100
G.p. = 25
Sales = 125
As per question :
Sales = 10,00,000
COGS = 100/125 × 10,00,000
=8,00,000
COGS = 8,00,000
G.p. = 8,00,000 × 25/100
=2,00,000
Hence,
COGS = 8,00,000
G.p. =2,00,000
Answered by
4
Answer:
Gross Profit =25% of Cost
∴ If Cost is Rs 100, Gross Profit =Rs25 and Sales = Rs 125
If Sale is Rs 9,00,000, Gross Profit
=Rs9,00,000×Rs25/Rs125=Rs1,80,000
Cost of Goods Sold
=Rs9,00,000−Rs1,80,000=Rs7,20,000
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