calculate the value of opening stock and closing stock if cost of goods sold Rs 270000;Net purchase Rs 200000;Direct expanses Rs 40000 and opening stock is two time of the closing stock.(Answer plz I am having PA 3 exam after 20 min)
Answers
Answer:
cost of opening stock. 270000
cost of closing stock. 200000
total cost is. 4700000 is ans
Answer:
Closing stock = 30,000
Opening stock = 60,000
Explanation:
Given :
Cost of Goods sold = Rs 2,70,000
Net Purchase = Rs 2,00,000
Direct expenses = Rs 40,000
Opening stock is two time of the Closing stock
To find :
Calculate the value of Opening stock and Closing stock
Solution :
Let,
Closing stock = x
Opening stock is two time of the Closing stock
So,
Opening stock = 2x
Cost of Goods Sold = Opening Stock + Net Purchase + Direct expenses - Closing stock
⇒ 2,70,000 = 2x + 2,00,000 + 40,000 - x
⇒ 2,70,000 = 2x - x + 2,00,000 + 40,000
⇒ 2,70,000 = 2x - x + 2,40,000
⇒ 2,70,000 - 2,40,000 = 2x -x
⇒ 30,000 = x
⇒ x = 30,000
Closing stock = 30,000
Opening stock = 2x
⇒ 2 (30,000)
⇒ 60,000
Opening stock = 60,000
Therefore,
Closing stock = 30,000
Opening stock = 60,000