Question

23. Compute cost of goods sold for the year 2017:
Particulars
Sales
Purchases
Wages
Stock on 01/04/2016
Stock on 31/03/2017
Carriage inwards
Amount(Rs.
)
2,00,000
1,50,000
10,000
30,000
40,000
10,000​

Answer 1

Answer:

Opening Stock 2,50,000 Sales 18,00,000

Purchases 7,00,000

Less: Sales Returns

36,000 17,64,000

Less: Purchases Returns

22,000 6,78,000 Closing Stock 6,00,000

Carriage Inward 34,000

Wages 2,06,000

Custom Duty 15,000

Gas, Fuel & Power 60,000

Dock Charges 8,000

Manufacturing Expenses 2,48,000

Factory Lighting 96,000

Gross Profit (Balancing Figure) 7,69,000

23,64,000 23,64,000