ANSWER THE FOLLOWING QUESTION:-
Calculate Closing Stock and Cost of Goods Sold: Opening Stock * 54567; Sales * 16,890; Carriage Inwards * 1,567; Sales Returns 1,000; Gross Profit * 6,6780; Purchase 10,070; Purchase Retums 980.
Answers
Answer:
Cost of Goods Sold
= Net Sales (Sales - Sales Return) - Gross Profit
= (16890 - 1000) - 6780
= 15890 - 6780
= 9110
Closing Stock
= Opening Stock + Net Purchases ( Purchase - Purchase Return) + Carriage Inwards - Cost of Goods Sold
= 54567 + (10070 - 980) + 1567 - 9110
= 54567 + 9090 + 1567 - 9110
= 56114
Answer:
Formerly known as Tata Iron and Steel Company Limited (TISCO), Tata Steel is among the top steel producing companies in the world with an annual crude steel capacity of 34 million tonnes per annum. It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. The group (excluding SEA operations) recorded a consolidated turnover of US$19.7 billion in the financial year ending 31 March 2020. It is the second largest steel company in India (measured by domestic production) with an annual capacity of 13 million tonnes after Steel Authority of India Ltd. (SAIL)
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