stock on 1-4-2016...............30,000
purchases.............1,00,000
cartage on purchases.......5,000
stock on 31-3-2017.........25,000
Gross profit 25%on cost
pls solve this......................
Answers
Answered by
4
here it is................
Sales= 116250
Cost of Goods Sold= Opening balance + purchases + carriage inwards - closing balance
=30000 + 100000 +5000 - 25000
=110000..
Sales = cost of Goods Sold + gross profit rate.
=110000 + 25% =137500
Sales= 116250
Cost of Goods Sold= Opening balance + purchases + carriage inwards - closing balance
=30000 + 100000 +5000 - 25000
=110000..
Sales = cost of Goods Sold + gross profit rate.
=110000 + 25% =137500
Attachments:
smileyzainsubutain:
hey question is that find out the cost of goods sold and sales for the year 2016 -17
u should mention that know..not a problem i ll tell u
already in that image u have sales(Balancing figure)
check my answer..i ve edited it
Answered by
2
cost of goods sold= opening stock + purchases+ cartage on purchase - closing stock
=30000+100000+5000-25000
=1,10,000
gross profit = 1,10,000+(110000*0.25)
=110000+27500
=137500
sales = 110000+137500
=237500
Hope its useful..!!!
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