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When Head office at Mumbai sent goods to their branch at Jammu at Cost plus 50% as invoice price ,Goods Costing Rs.8,78,000 sent to Jammu branch by Mumbai H.O, Opening stock at Jammu branch was Rs.1,20,000 at Selling price and Closing stock was Rs.1,47,000 Selling price ,Branch returned goods worth Rs.57,000 @ Selling price to Head office find out Gross profit under Stock and Debtors method?
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When Head office at Mumbai sent goods to their branch at Jammu at Cost...

Calculation of Gross Profit under Stock and Debtors Method

- Calculation of Cost of Goods Sold (COGS):
- Cost of goods sent to Jammu branch = Rs. 8,78,000
- Goods returned to H.O = Rs. 57,000 @ Selling price
- Cost of goods sold = Cost of goods sent - Closing stock + Opening stock + Goods returned
= Rs. 8,78,000 - Rs. 1,47,000 + Rs. 1,20,000 + Rs. 57,000
= Rs. 8,08,000

- Calculation of Gross Profit:
- Gross Profit = Sales - COGS
- Sales = Closing stock + COGS - Opening stock
= Rs. 1,47,000 + Rs. 8,08,000 - Rs. 1,20,000
= Rs. 8,35,000
- Gross Profit = Rs. 8,35,000 - Rs. 8,08,000
= Rs. 27,000

Therefore, the Gross Profit under Stock and Debtors Method is Rs. 27,000.
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When Head office at Mumbai sent goods to their branch at Jammu at Cost plus 50% as invoice price ,Goods Costing Rs.8,78,000 sent to Jammu branch by Mumbai H.O, Opening stock at Jammu branch was Rs.1,20,000 at Selling price and Closing stock was Rs.1,47,000 Selling price ,Branch returned goods worth Rs.57,000 @ Selling price to Head office find out Gross profit under Stock and Debtors method?
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When Head office at Mumbai sent goods to their branch at Jammu at Cost plus 50% as invoice price ,Goods Costing Rs.8,78,000 sent to Jammu branch by Mumbai H.O, Opening stock at Jammu branch was Rs.1,20,000 at Selling price and Closing stock was Rs.1,47,000 Selling price ,Branch returned goods worth Rs.57,000 @ Selling price to Head office find out Gross profit under Stock and Debtors method? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about When Head office at Mumbai sent goods to their branch at Jammu at Cost plus 50% as invoice price ,Goods Costing Rs.8,78,000 sent to Jammu branch by Mumbai H.O, Opening stock at Jammu branch was Rs.1,20,000 at Selling price and Closing stock was Rs.1,47,000 Selling price ,Branch returned goods worth Rs.57,000 @ Selling price to Head office find out Gross profit under Stock and Debtors method? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for When Head office at Mumbai sent goods to their branch at Jammu at Cost plus 50% as invoice price ,Goods Costing Rs.8,78,000 sent to Jammu branch by Mumbai H.O, Opening stock at Jammu branch was Rs.1,20,000 at Selling price and Closing stock was Rs.1,47,000 Selling price ,Branch returned goods worth Rs.57,000 @ Selling price to Head office find out Gross profit under Stock and Debtors method?.
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