1.

Closing stock – Rs. 30,000Sales – Rs. 1,00,000Gross Profit 20% on salePurchases – Rs. 60,000Direct Wages – Rs. 7000Find out opening stock.

Answer»

Opening stock = Sales + Closing stock – (Purchases + Direct Expense + Gross Profit)

= 1,00,000 + 30,000 – (60,000 + 7,000 + 20,000)

= 1,30,000 – 87,000 = 43,000



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