Question

calculate closing stock purchase rupees 5000 sales rupees 100000 return outward 5000 return inward 7,000 carriage 5000 GP is 20% on sales
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Answer 1

Answer:

Cost of Goods Sold

= Net Sales (Sales - Sales Return) - Gross Profit

= Rs. 15,000 - Rs. 6,000

= Rs. 9,000. 

Closing Stock

= Opening Stock + Net Purchaases (Purchases - Purchases Return) + Carriage Inwards - Cost of Goods Sold 

 = Rs. 5,000 + Rs. 9,100 + Rs. 1,000 - Rs. 9,000

= Rs. 6,100