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From the following data, find out the gross profit on the inventory sold under weighted average price method 1st Jan - opening inventory - 1000 units @ Rs. 4 per unit 15th Jan - Purchases - 1100 units @ Rs. 5 per unit 30th Jan - Purchases - 1300 units @ Rs. 6 per unit Sales during the month - 3000 units @ Rs. 10 per unit Rs. 15,100 Rs. 15,000 Rs. 14,735 Rs. 14,300?
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From the following data, find out the gross profit on the inventory so...
Calculation of Gross Profit using Weighted Average Price Method

Calculating Weighted Average Price
- Total cost of opening inventory: 1000 units * Rs. 4 = Rs. 4000
- Total cost of first purchase: 1100 units * Rs. 5 = Rs. 5500
- Total cost of second purchase: 1300 units * Rs. 6 = Rs. 7800
- Total units available for sale: 1000 + 1100 + 1300 = 3400 units
- Total cost of goods available for sale: Rs. 4000 + Rs. 5500 + Rs. 7800 = Rs. 17300
- Weighted Average Price per unit: Rs. 17300 / 3400 = Rs. 5.0882

Calculating Cost of Goods Sold
- Cost of goods sold: 3000 units * Rs. 5.0882 = Rs. 15264

Calculating Gross Profit
- Sales revenue: 3000 units * Rs. 10 = Rs. 30000
- Gross Profit: Rs. 30000 - Rs. 15264 = Rs. 14736
Therefore, the gross profit on the inventory sold under weighted average price method is Rs. 14,736.
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From the following data, find out the gross profit on the inventory sold under weighted average price method 1st Jan - opening inventory - 1000 units @ Rs. 4 per unit 15th Jan - Purchases - 1100 units @ Rs. 5 per unit 30th Jan - Purchases - 1300 units @ Rs. 6 per unit Sales during the month - 3000 units @ Rs. 10 per unit Rs. 15,100 Rs. 15,000 Rs. 14,735 Rs. 14,300?
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From the following data, find out the gross profit on the inventory sold under weighted average price method 1st Jan - opening inventory - 1000 units @ Rs. 4 per unit 15th Jan - Purchases - 1100 units @ Rs. 5 per unit 30th Jan - Purchases - 1300 units @ Rs. 6 per unit Sales during the month - 3000 units @ Rs. 10 per unit Rs. 15,100 Rs. 15,000 Rs. 14,735 Rs. 14,300? 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 From the following data, find out the gross profit on the inventory sold under weighted average price method 1st Jan - opening inventory - 1000 units @ Rs. 4 per unit 15th Jan - Purchases - 1100 units @ Rs. 5 per unit 30th Jan - Purchases - 1300 units @ Rs. 6 per unit Sales during the month - 3000 units @ Rs. 10 per unit Rs. 15,100 Rs. 15,000 Rs. 14,735 Rs. 14,300? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following data, find out the gross profit on the inventory sold under weighted average price method 1st Jan - opening inventory - 1000 units @ Rs. 4 per unit 15th Jan - Purchases - 1100 units @ Rs. 5 per unit 30th Jan - Purchases - 1300 units @ Rs. 6 per unit Sales during the month - 3000 units @ Rs. 10 per unit Rs. 15,100 Rs. 15,000 Rs. 14,735 Rs. 14,300?.
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