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Net sales are Rs 1,20,000 and gross profit is 25 percent of sales. Cost of goods sold is:
ARs 90,000
BRs 30,000
CRs 96,000
DRs 1,50,000
Answer & Solution
Correct answer: A. Rs 90,000
Gross profit is 30,000, so cost of goods sold is 1,20,000 minus 30,000, which is 90,000.
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