Question

purchase 1520000, wages 210000, sales 2160000, opening stock 208000 it was 80% of closing stock, purchase return 40000, gross profit is​

Answer 1

question:

Opening Stock Rs. 1,00,000, Sales Rs. 5,00,000, Gross profit @ 25% on cost, Purchase Rs. 6,00,000. Closing Stock is ___________

Explanation:

Closing stock = (Opening stock + purchases + gross profit) - sales

= (1,00,000 + 6,00,000 + 1,00,000)-5,00,000

= 8,20,000 - 5,00,000

= 3,00,000

Working note:- Calculation of gross profit

(Gross profit is 25% of cost because we don't have cost we will calculate it with the help of sales)

If cost is 100 gross profit is 25% of cost then sale will be Gross profit + cost

Hence 100 +25 = 125

therefore,

gross profit = 25/125 x 5,00,000

= 1,00,000

u can substitute ur values...wat I have done is a sample...

hope it helps you...