sells GOODS at Cost plus 25%. Sales to credit customers (¾ of total) was ₹1,80,000. His Opening and CLOSING Stocks were ₹ 20,000 and ₹ 15,000 RESPECTIVELY. FIND out the VALUE of Purchases.⠀⠀⠀⠀⠀⠀ • Opening stock = Rs.20000⠀⠀⠀⠀⠀⠀Credit sales(¾ of total) = Rs.180000Let the total sales be x ⠀⠀⠀⠀⠀⠀↬ ¾ of total sales = 180000⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀↬ ¾ × x = 180000⠀⠀⠀⠀⠀⠀↬ x = 180000 × 3/4 ⠀⠀⠀⠀⠀⠀↬ x = Rs.240000⠀⠀⠀⠀⠀⠀∴ Total sales = Rs.240000⠀⠀⠀⠀⠀⠀A firm sells goods at Cost plus 25%.Let the cost be y⠀⠀⠀⠀⠀⠀↬ Total sales = Cost of goods sold + 25% of sells⠀⠀⠀⠀⠀⠀↬ 240000 = y + ⠀⠀⠀⠀⠀⠀↬ 240000 = y + ⠀⠀⠀⠀⠀⠀↬ 240000 = 4y + ⠀⠀⠀⠀⠀⠀↬ 240000 = ⠀⠀⠀⠀⠀⠀↬ y = ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀↬ y = 192000Cost of goods sold = Rs.192000⠀⠀⠀⠀⠀⠀As we know that Gross profit = Net sales - Cost of goods sold⠀⠀⠀⠀⠀⠀↬ G.P = 240000 - 192000⠀⠀⠀⠀⠀⠀↬ G.P = Rs.48000⠀⠀⠀⠀⠀⠀•°• Gross profit = Rs.48000⠀⠀⠀⠀⠀⠀Let's find out purchases Cost of goods sold = Opening stock + Net purchases - Closing stock ⠀⠀⠀⠀⠀⠀↬ Net purchases = Cost of goods sold - Opening stock + Closing stock ⠀⠀⠀⠀⠀⠀↬ Net purchases = 192000 - 20000 + 15000⠀⠀⠀⠀⠀⠀↬ Net purchases = 192000 - 5000⠀⠀⠀⠀⠀⠀↬ Net purchases = 187000⠀⠀⠀⠀⠀⠀∴ Net purchases = Rs.187000____________________________________________