139 :- From the following information, calculate Gross Profit Ratio:
Solution :-
Revenue from Operation = Credit Sales + Cash Sales
= 8,00,000 + 2,00,000
= 10,00,000
Cost of Goods Sold = Purchases (Cash + Credit) – Return Outwards + Wages + Carriage Inwards + Decrease in Inventory
= (3,60,000 + 40,000) – 20,000 + 20,000 + 8,000 + 1,22,000
= Rs 5,30,000
Gross Profit = Revenue from Operations – Cost of Goods Sold
= 10,00,000 – 5,30,000
= Rs 4,70,000
Gross Profit Ratio = Gross Profit/Revenue from Operations x 100
= 4,70,000/10,00,000 x 100
= 47%