Question

Xyz opening stock Rs 250 and closing stock Rs 5400 and the Gold Sold Rs 65600 what will be the amount of purchases?

Answer 1

cost of goods sold = opening capital + purchases - closing capital

        65600            = 250 + purchases - 5400

       65600            = - 5150 + purchases

       purchases     = 65600 +5150

                                = 70750

Purchases  = 70750

Answer 2

Purchase during the year = 70,750

Explanation:

Given:

Opening stock = Rs.250

Closing stock = Rs.5400

Cost of goods sold = Rs.65,600

Purchase during the year = ?

Computation of Purchase during the year:

Purchase during the year = Cost of goods sold + Closing stock - Opening stock

Purchase during the year = 65,600 + 5400 - 250

Purchase during the year = 70,750

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