Opening Stock Rs.30000 Cost of goods available for sale Rs. 160000 Sales were Rs. 160000 Gross profit on sales is 30% Calculate closing stock.?

b. Rs.48,000

 

We calculate this from down to top. Gross profit =.3x160,000 = Rs.48,000

Cost of sales = Sales - Gross Profit, which implies160,000 -48,000 =112,000

Purchases = cost of goods available for sale - opening stock, thus160,000 -30,000 =130,000

Since cost of sales = cost of goods available for sale - closing stock

Closing stock = cost of goods available for sale - cost of sales,

thus160,000 -112,000 = Rs.48,000

 

Gross Profit = Sales- Cost of Goods Sold

 

*cost of Goods Sold = Sales    -   Gross Profit

 

                                    =160,000 -  48000          

 

                                    =112,000      

 

(Gross Profit =30% of Sales   =30/100 ×160,000 =30 ×1600 = *48000)

 

Cost of Goods Sold = Cost of Goods Available for Sale – Closing Stock

 

Closing Stock = Cost of Goods Available for Sales –*Cost of Goods Sold

 

                         =160,000-112,000

 

                         =48,000

 

     Answers is  b)48,000

 

160000 *30% =48000.

ans = b) Rs.48,000.

RS.48000>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.

Since Cost of Goods sold is same as Sales, it means that there is no profit on sales. What remains is the profit in Closing stock only. So the gross profit available is only the profit included in Closing stock. Gross profit =48,000 Closing stock - Opening stock =48,000 Closing stock = Opening stock +48,000 =78,000 So my answer would be (d)

     Answers is  b)48,000

Closing stock = cost of goods available for sale - cost of sales,

thus160,000 -112,000 = Rs.48,000

 

Cost of Goods Sold =*30%

                                    =112000

Closing Stock = Goods Availabe for Sale - Cost of Good Sold

                           =160000 -112000 =48000

Hence Closing Stock is Rs.48000.00

The correct answer is a) NIL

Option B-48000....................

cost of goods avilabe for sale -cogs= c stock

160000-112000=48000

48000 ans.