If the cost of goods sold is Rs. 1,20,000 and gross loss is $${\frac{1}{4}^{{\text{th}}}}$$ of the selling price, then the selling price would be
or
If cost of goods sold is Rs. 1,20,000 and gross loss is 25% of sales, then what will be the amount of sales?
A. Rs. 90,000
B. Rs. 96,000
C. Rs. 1,20,000
D. Rs. 1,26,000
Answer: Option B
This Question Belongs to Commerce >> Accounting
Join The Discussion
Comments (2)
Related Questions on Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Let, selling price is tk100. So loss is 25%= tk 25.then cost price is 100+25=125. If cost is 125 then sell is 100.then cost 120000 when selling price is (120000/125) *100= tk 96000.
SELLING PRICE WILL BE 160000.