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Calculate the gross profit purchase 680000 return outwards 30000 carriage inward 20000 carriage outwards 15000 wages 50000 3/4 of the goods are sold?
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Calculate the gross profit purchase 680000 return outwards 30000 carri...
C.O.G.s=opening stock+net purchases+direct expenses- direct expensesPurchase-return outward=680000-30000=650000650000+20000+50000=720000720000x3/4= 540000G.P=sales - C.O.G.S600000-540000="60000"ans
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Calculate the gross profit purchase 680000 return outwards 30000 carri...
**Calculation of Gross Profit**
To calculate the gross profit, we need to consider the various components involved in the calculation. The given information includes:
- Purchase: $680,000
- Return Outwards: $30,000
- Carriage Inward: $20,000
- Carriage Outwards: $15,000
- Wages: $50,000
- 3/4 of goods sold
We will break down the calculation of gross profit using the given information.
**1. Net Purchases**
Net purchases can be calculated by subtracting the return outwards and carriage inward from the total purchase amount.
Net Purchases = Purchase - Return Outwards - Carriage Inward
Net Purchases = $680,000 - $30,000 - $20,000
Net Purchases = $630,000
**2. Cost of Goods Sold (COGS)**
To calculate the cost of goods sold, we need to consider the net purchases and the proportion of goods sold.
COGS = (3/4) * Net Purchases
COGS = (3/4) * $630,000
COGS = $472,500
**3. Gross Profit**
Gross profit is calculated by subtracting the cost of goods sold, carriage outwards, and wages from the net purchases.
Gross Profit = Net Purchases - COGS - Carriage Outwards - Wages
Gross Profit = $630,000 - $472,500 - $15,000 - $50,000
Gross Profit = $92,500
Therefore, the gross profit is $92,500.
To calculate the gross profit, we need to consider the various components involved in the calculation. The given information includes:
- Purchase: $680,000
- Return Outwards: $30,000
- Carriage Inward: $20,000
- Carriage Outwards: $15,000
- Wages: $50,000
- 3/4 of goods sold
We will break down the calculation of gross profit using the given information.
**1. Net Purchases**
Net purchases can be calculated by subtracting the return outwards and carriage inward from the total purchase amount.
Net Purchases = Purchase - Return Outwards - Carriage Inward
Net Purchases = $680,000 - $30,000 - $20,000
Net Purchases = $630,000
**2. Cost of Goods Sold (COGS)**
To calculate the cost of goods sold, we need to consider the net purchases and the proportion of goods sold.
COGS = (3/4) * Net Purchases
COGS = (3/4) * $630,000
COGS = $472,500
**3. Gross Profit**
Gross profit is calculated by subtracting the cost of goods sold, carriage outwards, and wages from the net purchases.
Gross Profit = Net Purchases - COGS - Carriage Outwards - Wages
Gross Profit = $630,000 - $472,500 - $15,000 - $50,000
Gross Profit = $92,500
Therefore, the gross profit is $92,500.
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Calculate the gross profit purchase 680000 return outwards 30000 carriage inward 20000 carriage outwards 15000 wages 50000 3/4 of the goods are sold?
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Calculate the gross profit purchase 680000 return outwards 30000 carriage inward 20000 carriage outwards 15000 wages 50000 3/4 of the goods are sold? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Calculate the gross profit purchase 680000 return outwards 30000 carriage inward 20000 carriage outwards 15000 wages 50000 3/4 of the goods are sold? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Calculate the gross profit purchase 680000 return outwards 30000 carriage inward 20000 carriage outwards 15000 wages 50000 3/4 of the goods are sold?.
Calculate the gross profit purchase 680000 return outwards 30000 carriage inward 20000 carriage outwards 15000 wages 50000 3/4 of the goods are sold? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Calculate the gross profit purchase 680000 return outwards 30000 carriage inward 20000 carriage outwards 15000 wages 50000 3/4 of the goods are sold? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Calculate the gross profit purchase 680000 return outwards 30000 carriage inward 20000 carriage outwards 15000 wages 50000 3/4 of the goods are sold?.
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