Question

with the help the following information find out closing stock
Gross profit 150000
opening stock 1000000
purchase 600000
sales 800000
sales returns 10000​

Answer 1

Answer:

Closing Stock = Opening Stock + Purchases + Gross Profit + Sales - Sales Returns

Therefore, Closing Stock = 10,00,000 + 6,00,000 + 1,50,000 - 8,00,000 + 10,000

Thus, Closing Stock = Rs 9,60,000

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Answer 2

Closing stock = opening stock + purchases +gross profit +Sales-Sales returns

Therefore , Closing stock = 10,00,000+ 6,00,000+1,50,000- 8,00,000+ 10,000

thus , closing stock = 9,60,600