Question

Sales 180 Lakhs, Purchases 129 Lakhs and Opening Stock 33 Lakhs. If the rate of Gross Profit is 50% on cost, then the value of closing stock will be …………………………​

Answer 1

Explanation:

let assume cp=100Rs

so 50% of 100 rs =150rs

now profit on 150 rs will be 50/150*100=33.3%

so the profit on sale= 33.3/100*18000000=6000000

so cp of sale is 12000000 rs

now closing stock will be

purchase - cogs ( cost of goods sold)

= 900000rs

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Answer 2

Answer:

42 Lakh

Explanation:

Here 50% profit on cost means Cost 100 +Profit 50 = Sales 150 .

in given question Actual Sale is 180 Lakh

Cost 100/ Sale 150 = Cost ?/ Sale 180

then cost is 120 Lakh So profit is 60 lakh

Opening Stock 33

Purchases 129

Profit 60

Total 222Lakh

Sale 180 Lakh

Closing Stock 42 Lakh

Total 222 Lakh