Saved Bookmarks
| 1. |
Ascertain cost of goods sold from the following information Opening stock 18000 Purchases 22000 Wages 5000 Closing stock 15000 |
|
Answer» Explanation: Correct option is A Rs.12,000 Trading A/c For the year ended.. PARTICULAR Amt Particular Amt To opening STOCK A/c 12000 By Sales A/c 30000 To PURCHASE A/c 20000 By Closing stock A/c 22000 To trading expenses A/c 8000 To Gross Profit transferred A/c 12000 52000 52000 To Ascertain Gross profit , we need to find out the value of closing stock : Let us take "x" as closing stock COGS = opening stock + purchase + direct expenses - closing stock 18000= 12000+ 20000 + 8000 - X X = 40000 - 18000 = 22000. |
|