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Calculate the gross profit/loss if:

by Sajjad Khan
(Pakistan)

(Rs = Rupees, official currency of Pakistan, India and Sri Lanka. O/B = Opening Balance)

Q:Sales Rs.60000
Cost of sales Rs.50000
O/B Stock Rs.10000
Purchases Rs.40000
Wages Rs.20000 and
Office rent Rs.10000.

A: Gross profit = Sales - Cost of Sales
= 60000 - 50000 = 10000

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