Question

From the following information, Calculate Gross Loss & Cost of goods sold.
Opening stock = *12,000 Wages & Salaries *3,000 Purchase = 33,000 Carriage inward *2,000 Sales = *25,000 Advertisement = *4,000 Sales return = *5,000 Gross Loss 20%​

Answer 1

Answer:

$Net Sales = Sales - Sales Return =Rs48,000−Rs3,000=Rs45,000=Rs48,000-Rs3,000=Rs45,000 </p><p>Cost of Goods Sold = Net Sales - Gross Profit =Rs45,000−Rs18,000=Rs27,000=Rs45,000-Rs18,000=Rs27,000 </p><p>Cost of Goods Sold = Opening Stock + Purchaes - Purchases Return + Carriage Inwards - Closing Stock </p><p>Rs27,000=Rs15,000+Rs30,000−Rs2,700+Rs3,000−Rs27,000=Rs15,000+Rs30,000-Rs2,700+Rs3,000-Closing Stock </p><p>Closing Stock =Rs45,300−Rs27,000=Rs18$