Question

21. Calculate Stock in the beginning: Sales Purchases Stock at the end Loss on Cost 80,000 60,000 8,000 1/6 44,000.)​

Answer 1

Answer:

Calculation For Gross Loss = 80,000 × 20% = 16,000.

Explanation:

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Answer 2

★ Appropriate Question :

21. Calculate Stock in the beginning:

Sales = 80,000

Purchases = 60,000

Stock at the end = 8,000

Loss on Cost = 1/6

(Ans : 44,000.)

Solution :

Sales = Cost of Goods Sold - Gross Loss

Let,

Cost of Goods Sold = x

$80000=x- \dfrac{ 1x }{ 6 }$

4,80,000 = 6x-x

4,80,000 = 5x

5x = 4,80,000

$x=\dfrac{4,80,000}{5}$

x = 96,000

Cost of Goods Sold = 96,000

Loss =

96,000 × (1/6) = 16,000

Cost of Goods Sold = Stock in the beginning + Purchases - Stock at the end

96,000 = Stock in the beginning + 60,000 - 8,000

96,000 = Stock in the beginning + 52,000

96,000 - 52,000 = Stock in the beginning

44,000 = Stock in the beginning

Therefore, Stock in the beginning will be 44,000.