Question

Calculate the cost of goods sold from the following information : opening stock :1200,Closing stock :400,Purchases : 3505, sales :5000

Answer 1

Net sales (cash sales + credit sales - return inward) 7,44,000

Add:- Closing stock (Lower of 54,000 or 50,400) 50,400

7,94,400

Less:- Opening stock (90,000)

purchases ( 30,000 + 6,00,000 - 6,000) (6,24,000)

Direct expenses (1,200 + 2,400 + 1,800 + 600) (6,000)

74,400

Answer 2

Answer:

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