Question

when sales Rs. 1,80,000 purchases
Rs. 1,60,000 opening stock Rs.
34,000 and rate of the gross profit
20% on cost the closing stock
would be **​

Answer 1

Answer:

Op. stock + purchase = 34,000+160,000 = 194,000.

G. profit is 20% on cost = 20/120 = 16.6667%.

So, cost will be 100-16.6667 = 83.3334%

Sales is = 180,000

Cost of sales = 180,000 x 83.3337% = 150,000.

G. profit will be = 180,000 - 150,000 = 30,000, which is 20% of cost.

Closing stock will be = 194,000 - 150,000 = 44,000.