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Sales rs 2,00,000 purchase rs 1 30, 000 wages rs 18000 closing stock rs 22,000 opening stock rs 20000 what was the gross profit?
Most Upvoted Answer
Sales rs 2,00,000 purchase rs 1 30, 000 wages rs 18000 closing stock r...
Gross profit = opening stock + sales - closing
stock + purchase + wages
= 20000 + 200000 - 22000 +
130000 +18000
= 220000 - 170000
= 50000
stock + purchase + wages
= 20000 + 200000 - 22000 +
130000 +18000
= 220000 - 170000
= 50000
Community Answer
Sales rs 2,00,000 purchase rs 1 30, 000 wages rs 18000 closing stock r...
Calculation of Gross Profit
Sales: Rs 2,00,000
Purchases: Rs 1,30,000
Wages: Rs 18,000
Closing Stock: Rs 22,000
Opening Stock: Rs 20,000
Calculation:
Gross Profit = Sales - Cost of Goods Sold (COGS)
COGS = Opening Stock + Purchases - Closing Stock
COGS = Rs 20,000 + Rs 1,30,000 - Rs 22,000
COGS = Rs 1,28,000
Gross Profit = Rs 2,00,000 - Rs 1,28,000 - Rs 18,000
Gross Profit = Rs 54,000
Explanation:
Gross Profit is the profit a company makes after deducting the cost of goods sold from the revenue. In this case, the total sales were Rs 2,00,000, and the COGS was calculated by adding the opening stock to purchases and subtracting the closing stock, which came out to be Rs 1,28,000. The wages were also deducted from the gross profit.
Therefore, the gross profit was Rs 54,000. This indicates that the company made a profit of Rs 54,000 during the given period after accounting for the cost of goods sold and wages.
Sales: Rs 2,00,000
Purchases: Rs 1,30,000
Wages: Rs 18,000
Closing Stock: Rs 22,000
Opening Stock: Rs 20,000
Calculation:
Gross Profit = Sales - Cost of Goods Sold (COGS)
COGS = Opening Stock + Purchases - Closing Stock
COGS = Rs 20,000 + Rs 1,30,000 - Rs 22,000
COGS = Rs 1,28,000
Gross Profit = Rs 2,00,000 - Rs 1,28,000 - Rs 18,000
Gross Profit = Rs 54,000
Explanation:
Gross Profit is the profit a company makes after deducting the cost of goods sold from the revenue. In this case, the total sales were Rs 2,00,000, and the COGS was calculated by adding the opening stock to purchases and subtracting the closing stock, which came out to be Rs 1,28,000. The wages were also deducted from the gross profit.
Therefore, the gross profit was Rs 54,000. This indicates that the company made a profit of Rs 54,000 during the given period after accounting for the cost of goods sold and wages.
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Sales rs 2,00,000 purchase rs 1 30, 000 wages rs 18000 closing stock rs 22,000 opening stock rs 20000 what was the gross profit?
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Sales rs 2,00,000 purchase rs 1 30, 000 wages rs 18000 closing stock rs 22,000 opening stock rs 20000 what was the gross profit? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Sales rs 2,00,000 purchase rs 1 30, 000 wages rs 18000 closing stock rs 22,000 opening stock rs 20000 what was the gross profit? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sales rs 2,00,000 purchase rs 1 30, 000 wages rs 18000 closing stock rs 22,000 opening stock rs 20000 what was the gross profit?.
Sales rs 2,00,000 purchase rs 1 30, 000 wages rs 18000 closing stock rs 22,000 opening stock rs 20000 what was the gross profit? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Sales rs 2,00,000 purchase rs 1 30, 000 wages rs 18000 closing stock rs 22,000 opening stock rs 20000 what was the gross profit? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sales rs 2,00,000 purchase rs 1 30, 000 wages rs 18000 closing stock rs 22,000 opening stock rs 20000 what was the gross profit?.
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