From the following balances taken from the books of Simmi and Vimmi Ltd. for the year ending March 31, 2017, calculate the gross profit.     Closing Stock 2,50,000 Net sales during the year 40,00,000 Net purchases during the year 15,00,000 Opening stock 15,00,000 Direct expenses 80,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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From the following balances taken from the books of Simmi and Vimmi Ltd. for the year ending March 31, 2017, calculate the gross profit.
 
 
Closing Stock
2,50,000
Net sales during the year
40,00,000
Net purchases during the year
15,00,000
Opening stock
15,00,000
Direct expenses
80,000
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