Calculate Gross Sales Question
by K.udaya Sankar Sarma
(Hyderabad)
(Rs = Rupees = Indian currency)
Opening stock Rs.30000,
Closing stock Rs.40000,
Purchases Rs.560000,
Returns outward Rs.15000,
Returns inward Rs.20000,
Carriage inward Rs.5000.
If the gross profit is 20% of net sales, calculate the gross sales (show your calculations).
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