Accountancy, asked by sonalpriya6205, 1 year ago

calculate closing stock

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Answers

Answered by sujiritha95
2

Given

opening stock  =20000

Cash sales = 60000

credit sales = 40000

purchases = 70000

gross profit on cost  = 33 1/3 % or 1/3

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solution

Total sales = cash sales + credit sales

                   = 60000+40000

                    =100000

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gross profit on sales = 1/4

therefore gross profit = sales *1/4

                                     =100000*1/4

                                     =25000

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Cost of goods sold = sales - gross profit

                                 =100000- 25000

                                 = 75000

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Cost of goods sold = opening stock + purchases -closing stock

75000                      = 20000+ 70000 - closing stock

75000                       =90000 - closing stock

closing stock           = 90000-75000

closing stock            = 15000



sonalpriya6205: nice
sujiritha95: thank u
sonalpriya6205: yha 1/4 kaise aaya
sujiritha95: gross profit on cost = 1/3 , then gross profit on sales = 1/4
sonalpriya6205: okey..
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