MCQs)

As a costing team member, calculate the gross profit if; Sales Rs. 6000; opening finished goods. 1,000; Cost of goods manufactured Rs. 7,000; finished goods ending inventorty 3,000? *

(a) Loss Rs. 2,500

(b) Loss Rs. 1,500

(c) Profit Rs. 2,500

(d) Profit Rs. 1,000

(e) Other: (Explain)