Sales Rs. 200000, Purchases Rs. 130000, wages Rs. 18000, closing stock Rs. 22000, opening stock Rs. 20000, What was rate of gross profit ?
Answers
Answer:
Rs. 54,000 is the gross profit.
Step-by-step explanation:
Cost of Goods Sold = Opening Stock + Purchases + Wages - Closing Stock
=> 20,000 + 1,30,000 + 18,000 + 22,000
=> 1,46,000
Cost of Goods Sold = Rs. 1,46,000
Gross Profit :
Gross Profit = Net Sales - Cost of Goods Sold
=> 2,00,000 - 1,46,000
=> 54,000
Gross Profit = 54,000
Answer:
Gross Profit is Rs. 54,000
Explanation:
Given :
Sales = Rs. 2,00,000
Purchases = Rs. 1,30,000
Wages = Rs. 18,000
Closing Stock = Rs. 22,000
Opening Stock = Rs. 20,000
To find : Gross profit
Solution :
Gross Profit = Net Sales - Cost Of Goods Sold
Net Sales = Rs 2,00,000
Cost of Goods Sold = ??
___________________________
Cost of Goods Sold = Opening Stock + Purchases + Wages - Closing Stock
⇒ 20,000 + 1,30,000 + 18,000 + 22,000
⇒ 1,68,000 - 22,000
⇒ 1,46,000
Cost of Goods Sold = Rs. 1,46,000
___________________________
Gross Profit = Net Sales - Cost of Goods Sold
⇒ 2,00,000 - 1,46,000
⇒ 54,000
Gross Profit = 54,000
Therefore, Gross Profit = Rs 54,000