Question

i need solutions of 29, 30 pls anyone naswer
dont spam guyz❌❌❌❌❌❌​

Answer 1

29.

He sells goods at a profit of 20% on sales

Let sales be x.

Cost of good sold = 40000 * 8 = 320000.

Gross Profit Ratio = (Net sales - Cost of Goods sold)/Net sales * 100 = 20

=> (x - 320000)/x = (20/100)

=> (x - 320000)/x = 0.20

=> x - 0.2 x = 320000

=> x = 320000/0.8

=> x = 400000

Then,

Gross Profit = 20% of 400000

=> 20/100 * 400000

=> 8000.

Therefore,Profit = 80000

30.

Cost of goods sold = Sales - 20% of 180000

                                = 180000 - 36000

                                = 144000

Stock turnover ratio = Cost of Goods sold/Average stock

6 = (144000)/Average stock

Average stock = 24000.

Then,

Opening stock + closing stock = 2 * 24000 = 48000.

Excess amount of closing stock = 15,000

Then,

=> 48000 - 15000 = 33000.

(i)

Opening stock :

= 1/2 * 33000

= 16500

(ii)

Closing stock:

= 16000 + 15000

= 31500

Therefore,

Opening stock = 16500

Closing stock = 31500.

Hope it helps!