Question No 10 Chapter No 1 – USHA Publication 11 Class

Question No 10 Chapter No 1

Question No 10 Chapter No 1

10. From the following data of Harinder, find out the cost of goods sold and sales for the year 2016-17

  Rs
Opening stock  60,000
Purchases during year 1,60,000
Import duty 18,000
Closing stock 38,000
Gross profit 15% on cost   

 

The solution of Question No 10 Chapter No 1: –

 

Calculation of cost of goods sold and sales
Particular
Amount
Opening stock   60,000
+ Purchases   1,60,000
+ Import duty   18,000
    2,38,000
– Closing stock   38,000
Cost of goods sold   2,00,000
+ Gross Profit (15%on cost)   30,000
Sales   2,30,000

 

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