Question

Opening Stock= 22,000
Closing Stock= 25,000
Purchase return= 11,000
Gross Profit on sales= 20%
then Sales=?
With full explanation plz.

Answer 1

let sales be X
cost of goods sold=opening stock+net purchases+direct expenses - closing stock
=22000 +11000-25000
=8000
GP=SALES-COGS
20÷100× X =X - 8000
X = 10000

Answer 2

Answer:

opening stock amount 75000