Calculate closing stock and cost of goods sold: Opening Stock Rs 5,000, Sales Rs 16,000, Carriage Inwards Rs 1,000. Sales Return Rs 1,000, Gross Profit Rs 6,000, Pruchases Rs 10,000, Purchases Return Rs 900.

Calculate closing stock and cost of goods sold: Opening Stock Rs 5,00

1.	Calculate closing stock and cost of goods sold: Opening Stock Rs 5,000, Sales Rs 16,000, Carriage Inwards Rs 1,000. Sales Return Rs 1,000, Gross Profit Rs 6,000, Pruchases Rs 10,000, Purchases Return Rs 900.
Answer» <html><body><p></p>Solution :Cost of Goods Sold = Net <a href="https://interviewquestions.tuteehub.com/tag/sales-25569" style="font-weight:bold;" target="_blank" title="Click to know more about SALES">SALES</a> (i.e., Sales - Sales Return) - <a href="https://interviewquestions.tuteehub.com/tag/gross-477284" style="font-weight:bold;" target="_blank" title="Click to know more about GROSS">GROSS</a> Profit <br/> `= Rs 15,000 - Rs 6,000 = Rs 9,000` <br/> Cost of Goods Sold = <a href="https://interviewquestions.tuteehub.com/tag/opening-1136658" style="font-weight:bold;" target="_blank" title="Click to know more about OPENING">OPENING</a> Stock + Net Purchases + Carriage Inwards - <a href="https://interviewquestions.tuteehub.com/tag/closing-919708" style="font-weight:bold;" target="_blank" title="Click to know more about CLOSING">CLOSING</a> Stock <br/> `Rs 9,000 = Rs 5,000 + Rs 9,100` (i.e., `Rs 10,000 - Rs 900`) `+ 1,00 -` Closing Stock Closing Stock = Rs 6,100</body></html>

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Calculate closing stock and cost of goods sold: Opening Stock Rs 5,000, Sales Rs 16,000, Carriage Inwards Rs 1,000. Sales Return Rs 1,000, Gross Profit Rs 6,000, Pruchases Rs 10,000, Purchases Return Rs 900.

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