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Net Sales for the year ended 31st March, 2019 is Rs 9,00,000. If Gross Profit is 25% of Cost, find Gross Profit and Cost of Goods Sold |
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Answer» Solution :GROSS Profit `= 25%` of COST `:.` If Cost is Rs 100, Gross Profit `= Rs 25` and Sales = Rs 125 If Sale is Rs 9,00,000, Gross Profit `= Rs 9,00,000 xx Rs 25//Rs 125 = Rs 1,80,000` Cost of GOODS SOLD `= Rs 9,00,000 - Rs 1,80,000 = Rs 7,20,000` |
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