Question

Opening stock ₹ 30000; Sales ₹ 96000; Carriage Inwards ₹ 6000,

Answer 1

$\huge \mathfrak { \overline{ \green {\underline { \pink { \fbox{\blue{Answer}}}}}}}$

$\tt \: →Cost \: of \: goods \: sold \: = \: 54,000 \\ \\ \: \tt →Closing \: stock \: = \: 36,600 \\ \\ \: \bf \: step \: by \: step \: explaination \:$

$\: \bf \: Given \: \\ \: \: \tt \: Opening \: stock \: = \: 30,000 \\ \: \tt \: \: Purchases \: = \: 60,000 \\ \: \tt \: \: Purchase \: return \: = 5,400 \\ \: \: \tt \: Sales \: = \: 96,000 \\ \: \tt \: \: Sales \: returns \: = 6,000 \\ \: \: \tt \: \: Carriage \: inwards \: = 6,000 \\ \: \: \tt \: Gross \: profit \: = 36,000 \\ \\ \: \: \tt \: \bf \: To \: Find \: \\ \\ \: \: \tt Cost \: of \: goods \: sold \: = ? \\ \\ \: \: \tt \: Closing \: stock \: = ? \\ \\ \: \: \: {\tt \bf {\small {\underline { \green{Solution}}}}}$

Make Trading Account for finding Closing stock

(roughly)

Opening Stock - 30,000 Sales 96,000

Purchases 60,000 (-)Returns (6,000) 90,000

(-) Returns (5,400 ) → 54,600

Carriage Inwards 6,000 , Closing stock 36,600

Gross profit 36,000

————— ————

1,26,600 1,26,600

—————— —————

Cost of Goods Sold = Opening stock + Purchases - Purchases returns + Direct Expenses - Closing Stock

= 30,000 + 60,000 - 5,400 + + 6,000 - 36,600

= 30,000 + 54,600 + 6,000 - 36,600

= 54,000

Cost of goods sold » ₹ 54,000