What does 20% on cost mean?

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Question 2

Gross Profit = Sales - Cost of goods sold. In the given situation, gross profit is 20% on the cost of goods sold. Hence, assume cost of goods sold is 100, than the sales will be Rs.100+ Rs.20 i.e. Rs.120. Accordingly.

anonymous · Answer 1

Gross Profit = Sales - Cost of goods sold. In the given situation, gross profit is 20% on the cost of goods sold. Hence, assume cost of goods sold is 100, than the sales will be Rs.100+ Rs.20 i.e. Rs.120. Accordingly.

What does 20% on cost mean?

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What does 20% on cost mean?

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