From the following balances exatracted from the books of M/s Ahuja and Nanda.
Calculate the amount of:
(a) Cost of goods available for sale
(b) Cost of goods sold during the year
(c) Gross profit
opening stock 25,00
credit purchase 7,50,000
cash purcase 3,00,000
credit sales 12,00,000
cash sales 4,00,000
wages 1,00,000
salaries 1,40,000
closing stock 30,000
sales return 50,000
purchase return 10,000
