Question

calculate closing stock sales ₹20000, return inward₹500, return outward ₹1000, purchase₹12300, carriage inward₹400,gross profit ₹8000
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Answer 1

Closing Stock = ₹ 200

Explanation:

Given :

Sales = ₹20000

Return inward = ₹500

Return Outward = ₹1000

purchase = ₹12300

To find :

Calculate Closing Stock

Solution :

Net Sales = Sales - Sales Return

⇒20,000 - 500

⇒19,500

Net sales = ₹19,500

Cost of Goods Sold = Net sales - Gross Profit

⇒ 19,500 - 8,000

⇒ 11,500

Cost of Goods Sold = ₹ 11,500

Cost of Goods Sold = Opening Stock + Purchases + Direct Expenses - Closing Stock

⇒ 11,500 = (12,300 - 1,000) + 400 - Closing Stock

⇒ 11,500 = 11,300 + 400 - closing Stock

⇒ 11,500 = 11,700 - Closing Stock

⇒ Closing Stock = 11,700 - 11,500

⇒ 200

∴ Closing Stock = ₹ 200

Answer 2

Explanation:

Net Sales = 20,000 - 5,00

=> 19,500

Net Sales = 19,500

GOGS = Net Sales - GP

=> 19,500 -8000

=>11500

GOGS = Opening Stock + Purchases+direct Expenses - closing Stock

=> 11500 = 11,700 - closing stock

=> closing Stock= 11,700 - 11500

=> 200

Therefore, closing Stock=Rs.200