Question

If the opening stock is Rs. 4,000, purchases Rs. 20,000, direct expenses Rs. 3,000. Rent paid Rs. 6,000, closing stock Rs. 7,000. The amount of cost of goods sold is Rs……….​

Answer 1

Answer:

ANSWER

Trading A/c For the year ended..

Particular Amt Particular Amt

To opening stock A/c 12000 By Sales A/c 30000

To Purchase A/c 20000 By Closing stock A/c 22000

To trading expenses A/c 8000

To Gross Profit transferred A/c 12000

52000 52000

To Ascertain Gross profit , we need to find out the value of closing stock :

Let us take "x" as closing stock

COGS = opening stock + purchase + direct expenses - closing stock

18000= 12000+ 20000 + 8000 - X

X = 40000 - 18000

= 22000.

Explanation:

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