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Calculate the closing stock from the following : opening stock 36000 : net purchases 45000: salaries and wages 7000: sales 60,000: gross loss 4000: freight inwards 6000 ?
Most Upvoted Answer
Calculate the closing stock from the following : opening stock 36000 :...
Closing stock = opening stock + net purchases + freight inwards -sales - Gross loss
= 36000+45000+6000-60,000-4000
= 87000-64000
= 23000
Community Answer
Calculate the closing stock from the following : opening stock 36000 :...
Calculation of Closing Stock
Given:
Calculation:
1. Calculate Cost of Goods Sold
Cost of Goods Sold = Opening Stock + Net Purchases - Closing Stock
We need to find out the closing stock, so we will rearrange the above formula to find it.
Closing Stock = Opening Stock + Net Purchases - Cost of Goods Sold
Cost of Goods Sold = Sales - Gross Loss
Cost of Goods Sold = 60000 - 4000
Cost of Goods Sold = 56000
Closing Stock = 36000 + 45000 - 56000
Closing Stock = 25000
2. Verify the Calculation
We can verify the calculation by checking if the following equation holds true:
Opening Stock + Net Purchases - Cost of Goods Sold = Closing Stock
36000 + 45000 - 56000 = 25000
So, our calculation is correct.
Conclusion:
The closing stock is 25000.
Given:
- Opening Stock = 36000
- Net Purchases = 45000
- Salaries and Wages = 7000
- Sales = 60000
- Gross Loss = 4000
- Freight Inwards = 6000
Calculation:
1. Calculate Cost of Goods Sold
Cost of Goods Sold = Opening Stock + Net Purchases - Closing Stock
We need to find out the closing stock, so we will rearrange the above formula to find it.
Closing Stock = Opening Stock + Net Purchases - Cost of Goods Sold
Cost of Goods Sold = Sales - Gross Loss
Cost of Goods Sold = 60000 - 4000
Cost of Goods Sold = 56000
Closing Stock = 36000 + 45000 - 56000
Closing Stock = 25000
2. Verify the Calculation
We can verify the calculation by checking if the following equation holds true:
Opening Stock + Net Purchases - Cost of Goods Sold = Closing Stock
36000 + 45000 - 56000 = 25000
So, our calculation is correct.
Conclusion:
The closing stock is 25000.
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Calculate the closing stock from the following : opening stock 36000 : net purchases 45000: salaries and wages 7000: sales 60,000: gross loss 4000: freight inwards 6000 ?
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Calculate the closing stock from the following : opening stock 36000 : net purchases 45000: salaries and wages 7000: sales 60,000: gross loss 4000: freight inwards 6000 ? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Calculate the closing stock from the following : opening stock 36000 : net purchases 45000: salaries and wages 7000: sales 60,000: gross loss 4000: freight inwards 6000 ? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Calculate the closing stock from the following : opening stock 36000 : net purchases 45000: salaries and wages 7000: sales 60,000: gross loss 4000: freight inwards 6000 ?.
Calculate the closing stock from the following : opening stock 36000 : net purchases 45000: salaries and wages 7000: sales 60,000: gross loss 4000: freight inwards 6000 ? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Calculate the closing stock from the following : opening stock 36000 : net purchases 45000: salaries and wages 7000: sales 60,000: gross loss 4000: freight inwards 6000 ? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Calculate the closing stock from the following : opening stock 36000 : net purchases 45000: salaries and wages 7000: sales 60,000: gross loss 4000: freight inwards 6000 ?.
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