Question

20 Find out the closing stock from the following.
Opening Stock = 20,000, Sales = 1,00,000,
Purchases = 370,000.
Rate of gross profit on cost = 33%​

Answer 1

Answer:

i think that the purchases is 70,000.

$given - \\ sales = 100000 \\ profit = 33\% \\ so \: the \: stock \: sold = sales \times \frac{100 - profit}{100 } \\ = 100000 \times \frac{100 - 33}{100} = 67000 \\ then \: the \: closing \: stock \: =$ Opening stock + purchases - stock sold

20000+70000-67000

=23000

closing stock = 23000