Question

Opening stock of Medicines is ₹ 50,000. Credit Purchase of medicines is ₹
48,000 and cash purchase of medicines is 1/4th of total purchase. Closing
stock is ₹60,000. Sale of medicines during the year is ₹ 5,000. The
Organisation sold the medicines at a profit of 20% on sales. What is the
amount of medicines consumed during the year?
i. ₹ 45,000
ii. ₹ 46,000
iii. ₹ 49,000
iv. ₹ 50,000

Answer 1

Explanation:

opening stock +purchase +profit -(sales +closing stock)

50000+60000(48000+12000)+1000 -(5000+60000)

46000

Answer 2

OPENING STOCK = 50,000

CREDIT PURCHASE = 48,000

CASH PURCHASE = 16,000

CLOSING STOCK = 60,000

SALES = 4,000

COST OF MEDICINE CONSUMED = Opening stock + Credit purchase + Cash purchase - Sales - Closing stock.

= 50,000 + 48,000 + 16,000 - 4,000 - 60,000.

= 1,14,000 - 64,000.

= 50,000. ANSWER.

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