Question
Calculate the Gross Profit Ratio based on the following data: · Total Sales: ₹3,60,000 · Cost of Goods Sold (COG
- S : ₹3,00,000; · Sales Return: ₹20,000.
Net Sales = 𝑇𝑜𝑡𝑎𝑙 𝑆𝑎𝑙𝑒𝑠 − 𝑆𝑎𝑙𝑒𝑠 𝑅𝑒𝑡𝑢𝑟𝑛 = 3,60,000−20,000=3,40,000 Gross Profit = Net 𝑆𝑎𝑙𝑒𝑠 − 𝐶𝑂𝐺𝑆 = 3,40,000−3,00,000=40,000 Thus, Gross Profit Margin = ( 𝐺𝑟𝑜𝑠𝑠 𝑃𝑟𝑜𝑓𝑖𝑡 / 𝑁𝑒𝑡 𝑆𝑎𝑙𝑒𝑠 )×100 = (40,000/3,40,000) × 100 = 𝟏𝟏 . 𝟕𝟔 % More Financial System Questions
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