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Calculate closing stock from the following …

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Calculate closing stock from the following details: Opening stock 2000 Cash sales 60000 credit sales 40000 Purchase 70000 Rate of gross profit on Cost 33 1/3%

Posted by Divyanshu Jain 6 years, 10 months ago

CBSE > Class 11 > Accountancy

1 answers

Navneet Kaur 6 years, 10 months ago

Total sales = 100000 Gp= 25000 {100000×1/4} Cost of good sold = net sales- gross profit 100000- 25000 =75000 Cost of good sold = opening stock + purchase + direct expenses - closing stock 75000= 2000+70000- c/s 3000= closing stock {There is no direct expenses in question}

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