Question No 06 Chapter No 1 – USHA Publication 11 Class

Question No 06 Chapter No 1

Question No 06 Chapter No 1

6. Calculate the cost of goods sold and gross profit from the following:

  Rs   Rs
Opening stock  5,000 Octroi duty 250
Net purchased 35,000 Closing stock  7,500
Wages 1,250 Sale 39,000

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The solution of Question No 05 Chapter No 1: –

 

 

Cost of goods sold = Opening stock + Net purchased + Direct expenses – Closing stock
  = 5,000 + 35,000 + 1,250 + 250 6 + 7,500
  = Rs 34,000
Gross profit = Sales – Cost of goods sold
  = 39,000 – 34,000
     

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