Question

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Answer 1

Rs 13,500 is the correct answer

To Find:- Cost Of Goods sold

Net Sales=Cost of Goods sold+Gross Profit

Given:-

• Sales= Rs 24,000
• Sales Return= Rs 1,500
• Gross Profit= Rs 9,000

Explanation:-

Net Sales= sales-sales return

=> 24000-1500

= 22,500

Also

Net sales =Cost of Goods sold+G.P

We don't know the value of "Cost of Goods sold"

so Assume it as x

That is

22500=x+9000

x=22500-9000

x=13,5000

Cost Of Goods Sold:- Rs 13,500

Hope it helps

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Answer 2

Explanation:

Given

Sales=Rs.24000

Sales return= Rs.1,500

Gross profit= Rs.9,000

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★ To find

Cost of Goods Sold=?

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★ Solution :

Here, sales price of good is ₹ 24000

But also ₹1500 sales return on Selling price

Finding net sales of Good :

So,

Net Sales = Sales rupee−Sales return rupee

Net Sales= 24,000−1,500

NetSales=22,500

Net sales of good = ₹22,500.

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Now,Let the cost of Goods Sold be 'x' rupee.

Finding of Cost of Goods Sold :

So,

22,500=x+ 9,000

x =22,500−9,000

 x =13,500

Cost of Goods Sold  = Rs. 13,500

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★ Therefore

The cost of Goods Sold will be ₹13,500.