If sales =500000 and Gross Profit = 25% on cost. Find cost of goods sold and Gross Profit.

If sales =500000 and Gross Profit = 25% on cost. Find cost of goods so

1.	If sales =500000 and Gross Profit = 25% on cost. Find cost of goods sold and Gross Profit.
Answer» 400k cost 100k profit Cost 40000 gross profit 10000 375k 400000 is correct answer Cost of goods sold =500000-125000 =375000 Gross profit =5 00000 x 25/100 =125000