Calculate net sales and net purchases from the following information:
Sales Rs.1,00,000 , Purchases Rs.50,000
Sales Return Rs.5,000 , Purchase Return Rs. 8,000
Net Sales = Sales – Sales Return
= 1,00,000 – 5,000
= 95,000
Net Purchases = Purchases – Purchase Return
= 50,000 – 8,000
= 42,000
