23. Find out the purchase:
Sales (gross) Rs.6,10,000
Sale return Rs.10.000
Gross profit 20 % on cost of goods sold
Stock in the beginning Rs.20,000
Stock at the end Rs.40.000
Wages Rs.30,000
Carriage Inward Rs.20,000
Carriage outward Rs. 25,000.
Answers
Answer:
Net sales (cash sales + credit sales - return inward) 7,44,000
Add:- Closing stock (Lower of 54,000 or 50,400) 50,400
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7,94,400
Less:- Opening stock (90,000)
purchases ( 30,000 + 6,00,000 - 6,000) (6,24,000)
Direct expenses (1,200 + 2,400 + 1,800 + 600) (6,000)
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74,400
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