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Sales 1,55,000, Purchase 80,000, Sales Return 5,000, Purchase Retum
Calculate gross profit ratio from the following particulars :
10,000, Opening Stock * 40,000, Closing Stock 10,000.
2011
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Answer:
Gross profit ratio = Gross profit /net sales ×100
gross profit = net sales - cost of goods sold
cost of goods sold = opening g stock + net purchase - closing stock
= 40000+(80000-10000)-10000
=100000
net sales = 155000-5000=150000
Gross profit = 150000-100000=50000
ratio = 50000/150000×100=33.33%
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