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Accountancy
Simon Simon Jan 21, 2021

Gross profit ratio is 30%, Gross Profit is Rs. 2,00,000. Calculate the COGS.​

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Answer:

Gross profit ratio = Gross profit/net sales ×100

30% =. 200000/net sales

30/100 = 200000/net sales

3/10= 200000/net sales

3 net sales = 200000*10

net sales = 2000000/3

= 666666.66

= 666667

cost of goods sold = net sales - gross profit

= 6,66,667-200000

= 4,66,667

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Jan 21, 2021
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