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When sales =£ 1,80,000 purchase =£ 1,60,000 opening stock =£ 34,000 and rate of the gross profit is 20% on cost the closing stock would be?

Cost Accounting Financial Accounting Accounting and Finance
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Question added by Maaya Ray
Date Posted: 2017/10/30
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Md Firozal Hoque
by Md Firozal Hoque , Head of Accounts , Bay Group

Cost of sale = (180000/120)*100=150,000.

Opening Stock= 34,000

add: Purchase= 160,000

Less: cost of sale= (150,000)

_______________________________

Closing Stock  = 44,000.

 

 

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