Question

customers,
5. Calculate the cost of goods sold from the following:
10,000 Carriage inward
500
30,000 Closing stock
15,000
2,500
he cast of goods sold and gross profit from the following:
Opening stock
Net purchases
Wages​

Answer 1

Opening stock = 15000

sales = 48000

Carriage inwards = 3000

Sales return = 3000

Gross profit =18000

purchases = 30000

purchases return = 2700

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Net sales = sales - sales return

= 48000 - 3000

= 45000

Net purchases return = purchases - purchases return

= 30000 -2700

=27300

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Cost of goods sold = Net sales - gross profit

=45000 - 18000

=27000

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Therefore Closing stock = 18300

Answer 2

Answer:

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