Question

when there are sales Rs.24,000, sales return Rs.1500, Gross profit Rs.9000, what will be the cost of goods sold?​

Answer 1

$\underline\mathtt \orange{Answer}$

Cost of Goods Sold  will be Rs. 13,500

Given :

• Sales = Rs. 24,000
• Sales return =  Rs. 1,500
• Gross profit =  Rs. 9,000

To Find :

• Cost of Goods Sold

Solution :

• Net Sales = Cost of Goods Sold + Gross Profit
• Net Sales = ??
• Net Sales = Sales - Sales return
• 24,000 - 1500
• 22,500
• Net Sales = Rs. 22,500
• Net Sales = Cost of Goods Sold + Gross Profit

Let,

• Cost of Goods Sold  = x

So,

⇒ 22,500 = x +  9,000

⇒  x  = 22,500 - 9,000

⇒  x  =  13,500

Cost of Goods Sold  = Rs. 13,500

∴  Cost of Goods Sold  will be Rs. 13,500.

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Answer 2

★ Given :-

$\tt\pink{Sales = Rs.24000}$

$\tt\pink{Sales\: return = Rs.1,500}$

$\tt\pink{Gross\: profit = Rs.9,000}$

★ To find :-

$\tt\blue{Cost\: of \:Goods\: Sold = ?}$

★ Solution :-

Here, sales price of good is ₹ 24000

But also ₹1500 sales return on Selling price

Finding net sales of Good :

So,

${ \red{\leadsto{ \tt \pink{Net \: Sales} = \purple{Sales \: rupee - Sales \: return \: rupee}}}}$

$\red \leadsto\tt \pink{Net \: Sales }= \purple{ 24000 - 1500}$

$\red \leadsto\tt\pink{Net \: Sales} = \purple {22500}$

Net sales of good = ₹22500.

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

Finding of Cost of Goods Sold :

So,

$\red\leadsto \tt \purple{ 22500} = \pink{ x + 9000}$

$\red\leadsto \tt\purple{x} = \pink{22500 - 9000}$

$\red\leadsto \tt \purple{ x} = \pink{13500}$

${\Large{\underline{\boxed{\frak{ \purple{x}= \pink{13500}}}}}}$

Cost of Goods Sold = Rs. 13,500

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★ Therefore :-

The cost of Goods Sold will be ₹13,500