Question

find COGS and sales
opening stock = 15000
purchases = 2,00,000
frieght = 5000
cartage = 3000
GP = 20% on cost..
closing stock = 12000

Answer 1

Cost of Goods Sold = Opening Stock + Purchase - Closing Stock
i.e. 15000+200000-12000= 2,03,000

Gross Profit = 20% of COGS i.e. 2,03,000 = 40,600

Opening Stock + Purchase + Freight + Carriage + Gross Profit = Sales + Closing Stock,

So Sales = O Stock+ Purchase + Freight + Carriage + Gross Profit - Closing Stock

i.e. 263000-12000= 2,51,600

Answer:
Cost of Goods Sold 2,03,000, and
Sales 2,51,600

Answer 2

Cogs=opening + purchase - closing - direct expenses

=15000+200000-12000-5000

=198000


GP=20% on cost
i.e 20% of 198000

=39600


Cogs=sales - Gp

i.e

Sales=cogs +Gp


= 198000+39600


=237600