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gross profit of a film rupees 120000 and its 25 percent on cost of goods sold find out cost of goods sold and sales

    • Posted by Ak Kumar 3 years, 8 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Ankit Agarwal 3 years, 8 months ago

    Gross Profit = Sales - Cost of Goods Sold As per question, 25% of COGS = 120000 which means COGS = 120000/25% = 480000. Now we have got 2 figures, COGS = 480000 and GP = 120000. Sales = COGS + GP = 480000+120000 = 600000 Hope it helps.

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