Question

Cost of goods sold is Rs. 1,30,000/-,
Opening Stock Rs. 8,000/-, Closing Stock
Rs. 10,000/- Calculate Purchases. *
O
1,30,000
O 1,32,000
O 1,28,000
O 1,12000​

Answer 1

ANSWER :

Rs. 1,32,000

• ❖ If Cost of goods sold is Rs. 1,30,000/-, Opening Stock is Rs. 8,000/-, Closing Stock is Rs. 10,000/- ; then Purchases will be Rs. 1,32,000/-.

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SOLUTION :

❒ Given :-

• Cost of goods sold = Rs. 1,30,000

• Opening Stock = Rs. 8,000

• Closing Stock = Rs. 10,000

❒ To Find :-

• Purchases = ?

❒ Required Formula :-

• ★ Cost of goods sold = Opening Stock + Net Purchase - Closing Stock

❒ Calculation :-

Substituting the value in the formula we get,

• ★ Cost of goods sold = Opening Stock + Net purchase - Closing Stock

➜ Rs. 1,30,000 = Rs. 8,000 + Net Purchase - Rs. 10,000

➜ Rs. 1,30,000 = - Rs. 2,000 + Net Purchase

➜ Net Purchase = Rs. 1,30,000 + Rs. 2,000

∴ Net Purchase = Rs. 1,32,000 ✪

Hence, the amount of Purchases is Rs. 1,32,000.