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closing stock = purchase+ opening stock + gross profit - net sales
rate of gross profit = net sales × selling price
= 60,000 + 40,000 = 1,00,000 × 1/4
= 25000
closing stock = 70,000 + 20000 + 25000 - 1,00,000 ( 60,000 + 40000)
= 1,15,000 - 1,00,000 = 15,000
closing stock = 15000
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