Question

opening stock=36000, net purchases=45000, salaries and wages=7000, sales=60000, gross loss=4000, freight inwards=6000.

calculate closing stock:

Answer 1

Answer:

Closing stock = opening stock + net purchases + freight inwards -sales - Gross loss

= 36000+45000+6000-60,000-4000

= 87000-64000

= 23000

Explanation:

i hope it is helpful

Answer 2

Answer:

23,000

Explanation:

Formula of Cost of goods sold(COGS) = Net sales+ Gross Loss

=60000+4000

=64,000

Formula of closing stock= Opening stock+Direct expenses+Net purchases- COGS

=36,000+6,000+45,000-64,000

=87,000-64,000

=23,000

Note- We will not take 7,000 of salaries and wages because it's an indirect expense.

Hope this will help you