Opening Stock Rs 30,000, Purchases Rs 54,6000, Expenses on Purchases Rs 6,000, Sales Rs 90,000, Expenses on Sales Rs 3,000, Closing Stock Rs 36,600. Calculate Cost of Goods Sold and Gross Profit

Opening Stock Rs 30,000, Purchases Rs 54,6000, Expenses on Purchases R

1.	Opening Stock Rs 30,000, Purchases Rs 54,6000, Expenses on Purchases Rs 6,000, Sales Rs 90,000, Expenses on Sales Rs 3,000, Closing Stock Rs 36,600. Calculate Cost of Goods Sold and Gross Profit
Answer» <html><body><p></p>Solution :Cost of Good Sold = Opening Stock + Purchases + Expenses on Purchases - Closing Stock <br/> `= Rs 30,000 + Rs 54,600 + Rs 6,000 - Rs 36,600 = Rs 54,000`. <br/> Gross Profit = <a href="https://interviewquestions.tuteehub.com/tag/net-5194" style="font-weight:bold;" target="_blank" title="Click to know more about NET">NET</a> <a href="https://interviewquestions.tuteehub.com/tag/sales-25569" style="font-weight:bold;" target="_blank" title="Click to know more about SALES">SALES</a> - Cost of Goods Sold <br/> `= Rs 90,000 - Rs 54,000 = Rs 36,000` <br/> Note: Expenses on Sales being indirect expenses are not <a href="https://interviewquestions.tuteehub.com/tag/considered-7257760" style="font-weight:bold;" target="_blank" title="Click to know more about CONSIDERED">CONSIDERED</a> while computing Cost of Goods Sold</body></html>

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Opening Stock Rs 30,000, Purchases Rs 54,6000, Expenses on Purchases Rs 6,000, Sales Rs 90,000, Expenses on Sales Rs 3,000, Closing Stock Rs 36,600. Calculate Cost of Goods Sold and Gross Profit

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