Calculate net sales and net purchases from the following information:R

1.	Calculate net sales and net purchases from the following information:Rs.Sales1,25,000Purchases75,000Wages8,000Gross Profit42,000
Answer» Cost of Goods Sold = Opening Stock + Net Purchases + Direct Expenses - Closing Stock = 75,000 + 8,000 = 83,000 OR Cost of Goods Sold = Net Sales – Gross Profit = 1,25,000 – 42,000 = 83,000

Calculate net sales and net purchases from the following information:Rs.Sales1,25,000Purchases75,000Wages8,000Gross Profit42,000

Answer»

Cost of Goods Sold = Opening Stock + Net Purchases + Direct Expenses - Closing Stock

= 75,000 + 8,000

= 83,000

Cost of Goods Sold = Net Sales – Gross Profit

= 1,25,000 – 42,000

= 83,000

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Calculate net sales and net purchases from the following information:Rs.Sales1,25,000Purchases75,000Wages8,000Gross Profit42,000

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