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……….
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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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