Question

Calculate Cost of goods sold and Closing stock from the following information.
Sales ₹ 540000, sales return ₹16000,gross profit​

Answer 1

Explanation:

Cost of Goods Sold = Net Sales (i.e., Sales - Sales Return) - Gross Profit <br>

<br> Cost of Goods Sold = Opening Stock + Net Purchases + Carriage Inwards - Closing Stock <br>

(i.e.,

)

Closing Stock Closing Stock = Rs 6,100