Question

Purchase 1,50,000, closing stock 30,000,Sales 2,20,000, Gross profit
40,000, opening stock ?

1)50,000
2) 60,000
3) 255,000
4) 65,000​

Answer 1

Answer:

3) is the answer 255,000

Answer 2

Explanation:

Cost of Goods Sold = Sales - Gross Profit

Cost of Goods Sold = 2,20,000 - 40,000

Cost of Goods Sold = 1,80,000

Cost of Goods Sold = opening stock + Purchases - closingng stock

=> 1,80,000 = opening stock + 1,50,000 - 30,000

=> opening stock = 60,000

∴ opening stock = 60,000