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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Question 12 Chapter 1 - Unimax Publications of Class 11
12. From the following data of Avneet. Find out the cost of goods sold and sales for the year20-21.
| Rs. | |
| Opening Stock | 60,000 |
| Purchases during the year | 4,00,000 |
| Purchases Return | 30,000 |
| Octroi Duty | 30,000 |
| Stock on 31-3-2021 | 60,000 |
G.P. 20% on Cost
| COGS | = Opening Stock + Net Purchases + Direct Expenses – Closing Stock |
| = Rs. 60,000+ (4,00,000-30,000)+30,000-60,000 | |
| = Rs. 60,000+3,70,000+30,000-60,000 | |
| = Rs. 4,60,000-60,000 | |
| = Rs. 4,00,000 | |
| GP | = 20% on Cost |
| = Rs. 4,00,000 x 20/100 | |
| = Rs. 80,000 |
| Sales | = GP + COGS |
| = Rs. 80,000+ 4,00,000 | |
| = Rs. 4,80,000 |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 12 Chapter 1 - Unimax Publications of Class 11", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax Accountancy Class 11 - 2023.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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