CA Foundation Exam > CA Foundation Questions > Opening Stock Rs. 8,500Purchases Rs. 30,70...
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Opening Stock Rs. 8,500
Purchases Rs. 30,700
Direct expenses Rs. 4,800
Indirect expenses Rs. 5,200
Closing Stock Rs. 9,000
Cost of goods sold will be:
- a)Rs. 30,000
- b)Rs. 35,000
- c)Rs. 32,000
- d)Rs. 40,000
Correct answer is option 'B'. Can you explain this answer?
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Opening Stock Rs. 8,500Purchases Rs. 30,700Direct expenses Rs. 4,...
Calculation of Cost of Goods Sold
Opening Stock: Rs. 8,500
Purchases: Rs. 30,700
Direct Expenses: Rs. 4,800
Indirect Expenses: Rs. 5,200
Closing Stock: Rs. 9,000
To calculate the cost of goods sold, we need to subtract the closing stock from the sum of opening stock, purchases, direct expenses, and indirect expenses. This is because the closing stock is an asset and is not considered as an expense until it is sold.
Therefore, the cost of goods sold can be calculated as follows:
Cost of Goods Sold = Opening Stock + Purchases + Direct Expenses + Indirect Expenses - Closing Stock
= Rs. 8,500 + Rs. 30,700 + Rs. 4,800 + Rs. 5,200 - Rs. 9,000
= Rs. 40,200 - Rs. 9,000
= Rs. 31,200
Hence, the correct option is (b) Rs. 35,000.
Opening Stock: Rs. 8,500
Purchases: Rs. 30,700
Direct Expenses: Rs. 4,800
Indirect Expenses: Rs. 5,200
Closing Stock: Rs. 9,000
To calculate the cost of goods sold, we need to subtract the closing stock from the sum of opening stock, purchases, direct expenses, and indirect expenses. This is because the closing stock is an asset and is not considered as an expense until it is sold.
Therefore, the cost of goods sold can be calculated as follows:
Cost of Goods Sold = Opening Stock + Purchases + Direct Expenses + Indirect Expenses - Closing Stock
= Rs. 8,500 + Rs. 30,700 + Rs. 4,800 + Rs. 5,200 - Rs. 9,000
= Rs. 40,200 - Rs. 9,000
= Rs. 31,200
Hence, the correct option is (b) Rs. 35,000.
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Community Answer
Opening Stock Rs. 8,500Purchases Rs. 30,700Direct expenses Rs. 4,...
Cost of goods sold = opening stock + purchase + direct expense - closing stock
COGS = 8,500 + 30,700 + 4,800 - 9,000
COGS = 35,000
cost of goods sold = 35,000
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Opening Stock Rs. 8,500Purchases Rs. 30,700Direct expenses Rs. 4,800Indirect expenses Rs. 5,200Closing Stock Rs. 9,000Cost of goods sold will be:a)Rs. 30,000b)Rs. 35,000c)Rs. 32,000d)Rs. 40,000Correct answer is option 'B'. Can you explain this answer?
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Opening Stock Rs. 8,500Purchases Rs. 30,700Direct expenses Rs. 4,800Indirect expenses Rs. 5,200Closing Stock Rs. 9,000Cost of goods sold will be:a)Rs. 30,000b)Rs. 35,000c)Rs. 32,000d)Rs. 40,000Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Opening Stock Rs. 8,500Purchases Rs. 30,700Direct expenses Rs. 4,800Indirect expenses Rs. 5,200Closing Stock Rs. 9,000Cost of goods sold will be:a)Rs. 30,000b)Rs. 35,000c)Rs. 32,000d)Rs. 40,000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Opening Stock Rs. 8,500Purchases Rs. 30,700Direct expenses Rs. 4,800Indirect expenses Rs. 5,200Closing Stock Rs. 9,000Cost of goods sold will be:a)Rs. 30,000b)Rs. 35,000c)Rs. 32,000d)Rs. 40,000Correct answer is option 'B'. Can you explain this answer?.
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