Calculate the Gross Profit/Gross Loss Purchases A/c ₹ 15,500, Sales A/c ₹ 30,000, Carriage Inward ₹ 1,200, Opening Stock ₹ 5,000

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Calculate the Gross Profit/Gross Loss Purchases A/c ₹ 15,500, Sales A/c ₹ 30,000, Carriage Inward ₹ 1,200, Opening Stock ₹ 5,000, Purchases Returns ₹ 500, Closing Stock ₹ 18,000


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Salim Ahmed Kawsar

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Cost of Goods Sold = Opening Stock + Purchases – Purchases Returns + Carriage Inward – Closing Stock

= 5,000 + 15,500 – 500 + 1,200 – 18,000

= ₹ 3,200

Gross Profit = Sales – Cost of goods sold

= 30,000 – 3,200

= ₹ 26,800

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