Question

20 Find out the closing stock from the following.
Opening Stock = 20,000, Sales = 1,00,000,
Purchases = 70,000.
Rate of gross profit on cost = 33%​

Answer 1

Answer:

₹23000

Explanation:

sales is 100000

Profit 33%

Hence stock sold is

$100000 \times ( \frac{100 - 33}{100}) = 67000$

Balance stock= opening+ purchases- stock sold

$= 20000 + 70000 - 67000 = 23000$