Question No 11 Chapter No 1 – USHA Publication 11 Class

Question No 11 Chapter No 1

Question No 11 Chapter No 1

11. From the following data of Vikas, find out the cost of goods sold and sales for the year 2009-10

  Rs
Stock of goods on 1.4.2009 60,000
Purchases  1,50,000
Wages 10,000
Gross profit 30% on cost   

 

The solution of Question No 11 Chapter No 1: –

 

Calculation of cost of goods sold and sales
Particular
Amount
Opening stock   60,000
+ Purchases   1,50,000
+ Import duty   10,000
    2,20,000
– Closing stock   40,000
Cost of goods sold   1,80,000
+ Gross Profit (30%on cost)   54,000
Sales   2,34,000

 

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