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Question 5 Chapter 1 – Unimax Publications of Class 11
5. Calculate Profit if:
| Cash Sales =Rs. 40.000 | Credit Sales Returns = Rs. 3,000 |
| Credit Sales = Rs. 30,000 | Cost of Goods Sold = Rs. 50,000 |
The solution of Question 5 Chapter 1 – Unimax Publications of Class 11
| Gross Profit | = Net Sales – Cost of goods sold |
| Net Sales | = Sales – Sales Returns |
| Or [(Cash Sales + Credit Sales)-Sales Return] | |
| = Rs. [(40,000+30,000) -3,000] | |
| = Rs. 67,000 | |
| Gross Profit | = Rs. 67,000- 50,000 |
| = Rs. 17,000 |
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