alleryStart learning →Sales were Rs 4,00,000 with a gross profit of 25% on sales. What was the cost of goods sold?
ARs 3,00,000
BRs 3,20,000
CRs 1,00,000
DRs 5,00,000
Answer & Solution
Correct answer: A. Rs 3,00,000
Gross profit is 1,00,000, so cost of goods sold = 4,00,000 - 1,00,000 = 3,00,000.
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