Accountancy, asked by Angelo23121, 19 days ago

Find out closing stock by memorandum trading account when opening stock 2000 purchases 45000 carriage inwards 3000 and sales 66000 and rate of gross profit is 50%on cost

Answers

Answered by harmipatel2244

0

Answer:

cost of closing stock =

price of clothing inventory - gross profit on cost (%)

= 16000-50%

=8000

Explanation:

closing inventory =

sale. 66000

less-opening stock. (2000)

less-purchase. (45000)

less- carriage inward. (300)

inventory = 16000

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