InterviewSolution
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Opening Stock Rs 15,000, Sales Rs 48,000, Carriage Inwards Rs 3,000, Sales Return Rs 3,000, Gross Profit Rs 18,000, Pruchases Rs 30,000, Purchases Return Rs 2,700. Calculate Closing Stock and Cost of Goods Sold |
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Answer» Net Sales = Sales - Sales Return `= Rs 48,000 - Rs 3,000 = Rs 45,000` Cost of Goods Sold = Net Sales - Gross Profit `= Rs 45,000 - Rs 18,000 = Rs 27,000` Cost of Goods Sold = Opening Stock + Purchaes - Purchases Return + Carriage Inwards - Closing Stock `Rs 27,000 = Rs 15,000 + Rs 30,000 - Rs 2,700 + Rs 3,000 -` Closing Stock Closing Stock `= Rs 45,300 - Rs 27,000 = Rs 18,300` |
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