Question

Purchases of 600,000 opening stock of 200,000 returns outwards of 300,000 returns inwards of 200,000 closing stock of 100,000. A company targets a margin of 20%, what is the value of sales?

Answer 1

Explanation:

Net sales (cash sales + credit sales - return inward) 7,44,000Add: - Closing stock (Lower of 54,000 or 50,400) 50,400 - - - - - - - - - - - - ...