Question

Opening Stock 480000
Purchase 1360000
Sales 1950000
Gross profit 30% on cost
Calculate Closing Stock

Answer 1

Answer:

hey mate here is your answer

your answer is 4,75,000

Explanation:

Opening stock= 4,80,000

Purchase= 13,60,000

Gross profit = 5,85,000

(30% of 1950000)

Total=24,25,000

By sales= 19,50,000

By closing stock=4,75,000

(bal. fig)

Total=24,25,000

hope its helpfull for u

plz mark me brainliest

Answer 2

Closing stock = 3,40,000

Explanation:

Given:

Opening Stock = 4,80,000

Purchase = 13,60,000

Sales = 19,50,000

Gross profit = 30% (on cost)

Closing Stock = ?

Calculation of Cost of goods Sold:

Sales = Cost of goods sold + Gross profit

Sales = Cost of goods sold + 0.30 Cost of goods sold

19,50,000 = 1.30 Cost of goods sold

1,500,000 = Cost of goods sold

Closing Stock = Opening stock + Purchase - Cost of goods sold

Closing Stock = 4,80,000 + 13,60,000 - 15,00,000

Closing stock = 3,40,000

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https://brainly.in/question/14264596

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