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Find the cost of goods sold if goods are sold for 2,000 at 25% profit on cost?
Accountingmedium
A1,600
1,500
C1,000
D1,800 Updated by: Mohammad Ejaz Total Sales value =2000 Gross Profit =25 % of Sales = 25/100×2000 = 500 Gross Profit Cost of Goods = Total Sales – Gross Profit =2000-500 = 1500
Correct Answer: B. 1,500
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