Ascertain the value of Closing Stock from the following particulars: (3) Stock in the beginning Rs.18,000 Purchases Rs.69,000 Sales Rs. 1,02,000 Sales Return Rs.2,000 Rate of Gross profit is 25% of
Answers
Answer:
Explanation:
Given:
→ Opening stock = 18,000
→ Purchase = 69,000
→ Net sale = 1,00,000 [ 1,02,000 - 2,000 ]
→ Gross profit = 25% of cost
GROSS PROFIT IS 25% ON COST
Answer:
Gross profit = 25% on cost
Gross profit = 1,00,000 × ( ²⁵/₁₂₅ )
Gross profit = 20,000
Closing stock = Opening stock + purchase + Gross profit - Sale
Closing stock = 18,000 + 69,000 + 20,000 - 1,00,000
Closing stock = 1,07,000 - 1,00,000
Closing stock = 7,000
GROSS PROFIT IS 25 ON SALE
Answer:
Gross profit = 25% on Sale
Gross profit = 1,00,000 × ( ²⁵/₁₀₀ )
Gross profit = 25,000
Closing stock = Opening stock + purchase + Gross profit - Sale
Closing stock = 18,000 + 69,000 + 25,000 - 1,00,000
Closing stock = 1,12,000 - 1,00,000
Closing stock = 12,000
Answer:
Closing stock = (Opening stock + purchases + gross profit) - sales
= (1,00,000 + 6,00,000 + 1,00,000)- 5,00,000
= 8,20,000 - 5,00,000
= 3,00,000
Hence 100 +25 = 125
therefore,
gross profit = 25/125 x 5,00,000
= 1,00,000