If sales =500000 and Gross Profit = 25% on cost. Find cost of goods sold and Gross Profit.

If sales =500000 and Gross Profit = 25% on cost. Find cost of goods so

1.	If sales =500000 and Gross Profit = 25% on cost. Find cost of goods sold and Gross Profit.
Answer» 400k cost 100k profit<br>Cost 40000 gross profit 10000<br>375k<br>400000 is correct answer<br>Cost of goods sold =500000-125000 =375000<br>Gross profit =5 00000 x 25/100 =125000