Question

Cost of goods sold 1,50,000: Closing

stock ? 40,000; Opening stock 60,000 amount of purchase will be a. 1,30,000 b. 1,70,000

c. 50,000 d. None of these​

Answer 1

Answer:

a. 1,30,000

Amount of purchase will be 1,30,000

Explanation:

Given :

Cost of goods sold = 1,50,000

Closing stock = 40,000

Opening stock = 60,000

To find :

Amount of Purchase

Solution :

Cost of goods sold = Opening stock + Purchases - Closing stock

⇒ 1,50,000 = 60,000 + Purchase - 40,000

⇒ 1,50,000 = 60,000 - 40,000 + Purchase

⇒ 1,50,000 = 20,000 + Purchase

⇒ 1,50,000 - 20,000 = Purchase

⇒ 1,30,000 = Purchase

⇒ Purchase = 1,30,000

Therefore,

a. 1,30,000

Amount of purchase will be 1,30,000