Mr. Rajesh provides you the following figures relating to the year 2015
| Amount | |
| Opening Stock | 4,800 |
| Purchases | 20,800 |
| Direct Expenses | 15,110 |
| Closing Stock | 5,200 |
| Sales | 47,070 |
Calculate cost of goods sold and gross profit of Mr. Rajesh.
Calculation for Cost of Goods Sold
Cost of Goods Sold = Opening Stock + Purchases + Direct Expenses - Closing Stock
= Rs.(48,000 + 20,800 + 15,110 - 5,200)
= Rs. 35,510
Calculation for Gross Profit
Gross Profit = Sales - Cost of Goods Sold
= Rs. (47,070 - 35,510)
= Rs. 11,560
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