Cost of good sold Rs 150000 cl.stock Rs 40000 ,opening stock Rs 60000 what is the amount of purchase
Answers
Given:
The cost of goods sold=Rs.1,50,000
Closing stock=Rs.40,000
Opening stock=Rs.60,000
To find:
The amount of purchase
Solution:
The amount of purchase is Rs.1,30,000.
We can find the amount by following the process given below-
We know that the amount of purchases is obtained by adding the closing stocks and cost of goods sold and then subtracting the opening stock.
The closing stock=Rs.40,000
The cost of goods sold=Rs.1,50,000
The opening stock=Rs.60,000
Let the value of purchases be X.
Opening stock + amount of purchase-cost of goods sold= Closing stock
On putting the values, we get
60,000+X-1,50,000=40,000
60,000+X=40,000+1,50,000
60,000+X=1,90,000
X=1,90,000-60,000
X=1,30,000
The value of purchases, X= Rs.1,30,000
Therefore, the amount of purchase is Rs.1,30,000.
Explanation:
o/s + amount of purchase - COGS = c/s