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Xyz opening stock Rs 250 and closing stock Rs 5400 and the Gold Sold Rs 65600 what will be the amount of purchases?

Accounting
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Question added by Prathap Babu
Date Posted: 2019/02/03
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Muhammad Hassan
by Muhammad Hassan , Senior Accountant , Evo Events DMCC

Open Stock        250.00 Purchases   69,850.00 Available    70,100.00 Sold   65,600.00 Closing Stock     4,500.00

To find the cost of purchases, you've to start from down The calculation for CGS will be reversed i-e Additions will become substraction and substraction will become addition

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