MR. M. Sell goods 20% above cost. His total sale during the year is Rs. 10.20 Lac. During the year he sold damaged goods for Rs. 20,000/-, Costing of Rs. 30,000/-. The total sale include this amount also. What will be gross profit.
3 Replies
CA Ganesh Agarwala
(Audit Senior Manager)
(239 Points)
Replied 18 June 2012
dear hemchand,
i think its 1.57 lacs
cheers
ganesh agarwala
Hemchand Kohli
(Accountant)
(889 Points)
Replied 18 June 2012
I have also calculated Rs. 157,000/- but in books ans is 240,000/-
CA Ganesh Agarwala
(Audit Senior Manager)
(239 Points)
Replied 18 June 2012
dear hemchand,
i can be wrong. and if its institutes book then it can also be wrong.
cheers
ganesh agarwala
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