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- Calculate closing stock and cost of goods sold. (3) Opening stock Rs. 30,000, sales Rs. 96,000, carriage inwards Rs. 6,000, sales return Rs. 6,000 gross profit, Rs.36,000, purchases Rs.60,000 and purchase return Rs. 5,400?
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?- Calculate closing stock and cost of goods sold. (3) Opening stock R...
Calculation of Closing Stock and Cost of Goods Sold

Given Information:


  • Opening Stock: Rs. 30,000

  • Sales: Rs. 96,000

  • Carriage Inwards: Rs. 6,000

  • Sales Return: Rs. 6,000

  • Gross Profit: Rs. 36,000

  • Purchases: Rs. 60,000

  • Purchase Return: Rs. 5,400



Step 1: Calculation of Net Purchases

Net Purchases = Purchases - Purchase Returns
Net Purchases = Rs. 60,000 - Rs. 5,400
Net Purchases = Rs. 54,600

Step 2: Calculation of Cost of Goods Sold

Cost of Goods Sold = Opening Stock + Net Purchases + Carriage Inwards - Closing Stock
Cost of Goods Sold = Rs. 30,000 + Rs. 54,600 + Rs. 6,000 - Closing Stock

Step 3: Calculation of Closing Stock

Closing Stock = Opening Stock + Net Purchases + Carriage Inwards - Cost of Goods Sold - Sales Return
Closing Stock = Rs. 30,000 + Rs. 54,600 + Rs. 6,000 - Rs. 36,000 - Rs. 6,000
Closing Stock = Rs. 48,600

Step 4: Calculation of Cost of Goods Sold

Cost of Goods Sold = Opening Stock + Net Purchases + Carriage Inwards - Closing Stock
Cost of Goods Sold = Rs. 30,000 + Rs. 54,600 + Rs. 6,000 - Rs. 48,600
Cost of Goods Sold = Rs. 42,000

Conclusion:

The closing stock is Rs. 48,600 and the cost of goods sold is Rs. 42,000.
Community Answer
?- Calculate closing stock and cost of goods sold. (3) Opening stock R...
Cost of goods sold= opening stock+net purchases+direct expenses

=30000+6000+(60000-5400)
=90600
Cost of goods sold= net sales -grossprofit
=(96000-6000)-36000
=90000-36000
=54000
Closing stock= 90600-54000
=36600
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Cost of Goods Sold and Sales Calculation for NagmaGiven Data: Opening stock: 50,000 Purchases during the year: 1,50,000 Clearing charges: 20,000 Gross Profit: 15% on costCost of Goods Sold Calculation: Cost of Goods Available for Sale = Opening stock + Purchases during the year + Clearing charges Cost of Goods Available for Sale = 50,000 + 1,50,000 + 20,000 = 2,20,000 Cost of Goods Sold = Cost of Goods Available for Sale - Closing stock As the closing stock is not given, we cannot calculate the exact value of Cost of Goods Sold.Sales Calculation: Sales = Cost of Goods Sold + Gross Profit Gross Profit = 15% on cost = 15/100 * Cost of Goods Sold Substituting the value of Gross Profit in the above equation, we get: Sales = Cost of Goods Sold + (15/100 * Cost of Goods Sol d) Sales = Cost of Goods Sold * (1 + 15/100) Sales = Cost of Goods Sold * 1.15 As we do not have the exact value of Cost of Goods Sold, we cannot calculate the exact value of Sales.Conclusion: Without the exact value of closing stock, we cannot calculate the exact value of Cost of Goods Sold and Sales.

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?- Calculate closing stock and cost of goods sold. (3) Opening stock Rs. 30,000, sales Rs. 96,000, carriage inwards Rs. 6,000, sales return Rs. 6,000 gross profit, Rs.36,000, purchases Rs.60,000 and purchase return Rs. 5,400?
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?- Calculate closing stock and cost of goods sold. (3) Opening stock Rs. 30,000, sales Rs. 96,000, carriage inwards Rs. 6,000, sales return Rs. 6,000 gross profit, Rs.36,000, purchases Rs.60,000 and purchase return Rs. 5,400? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about ?- Calculate closing stock and cost of goods sold. (3) Opening stock Rs. 30,000, sales Rs. 96,000, carriage inwards Rs. 6,000, sales return Rs. 6,000 gross profit, Rs.36,000, purchases Rs.60,000 and purchase return Rs. 5,400? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for ?- Calculate closing stock and cost of goods sold. (3) Opening stock Rs. 30,000, sales Rs. 96,000, carriage inwards Rs. 6,000, sales return Rs. 6,000 gross profit, Rs.36,000, purchases Rs.60,000 and purchase return Rs. 5,400?.
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