Question

From the following calculate the amount of claim in respect of a fire occurred
in a business on 31-12-2019.
Rs.
Sales 1-4-2019 to 31-12-2019
12,00,000
Purchases 1-4-2019 to 31-12-2019 8,00,000
Stock on 31-3-2018
2.00.000
Gross Profit
25% on Sales
Marks​

Answer 1

cost of good sold

1000000

sales

1200000×25÷100

300000

gross 300000 on sales

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