Question

Calculate the closing stock from the following : opening stock 36000 : net purchases 45000: salaries and wages 7000: sales 60,000: gross loss 4000: freight inwards 6000 ?

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Answer 1

Closing stock = opening stock + net purchases + freight inwards -sales - Gross loss

= 36000+45000+6000-60,000-4000

= 87000-64000

= 23000

Answer 2

$\fontsize{18}{10}{\extup{\textbf{Closing stock is 23000.}}$

Explanation:

From the given information we are to calculate the closing stock.

The formula for calculating closing stock is given by

Closing stock = opening stock + net purchases + freight inwards - (sales + gross loss).

Therefore,

$\textup{Closing stock}\\\\=36000+45000+6000-(60000+4000)\\\\=23000.$

Thus, the required closing stock is 23000.

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Question : How to calculate closing stock?

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