CUET UG 2022 — Accountancy Financial Statements

Net Sales = $6{,}00{,}000 - 50{,}000 = 5{,}50{,}000$6,00,000−50,000=5,50,000.

Gross Profit = Net Sales - Cost of Goods Sold = $5{,}50{,}000 - 4{,}40{,}000 = 1{,}10{,}000$5,50,000−4,40,000=1,10,000.

Gross Profit Ratio = $\frac{1{,}10{,}000}{5{,}50{,}000} \times 100 = 20\%$5,50,0001,10,000​×100=20%.