Question

Opening stock is 2/5 of closing stock 10000 Freight and octroi 10% closing stock Purchase less return is 120000 GP is 11(1/9) of sales Salary of executive officer 250 per month Calculate gross profit, net profit, cost of goods sold

Answer 1

Answer:

COGS = 270000

Explanation:

Opening Stock 2/5 of Closing stock

Then,

Opening stock = 10000/5*2

Opening stock = 2000*2

Opening stock = 4000

Freight and Octroi = 10000*10/100

Freight and Octroi = 1000

COGS= Opening stock + Net purchase + D.E + C/S

COGS= 4000+120000+ 1000+ 10000

COGS = 270000