Question 4 Chapter 1 - Unimax Publications of Class 11

Question 4 Chapter 1 – Unimax

Table of Contents

4. From the following data, calculate the profits made by a trader in 2021.

	Rs.
Stock of goods on 1-1-2021	15,675
Purchases during the year	37,000
Purchases returns during the year	4,725
Sales returns during the year.	8,9871
Carriage inward	1,123
Sales during the year	77,765
Stock of goods on 31-12-2021	1,775

The solution of Question 4 Chapter 1 – Unimax:

Cost of goods sold	= Opening Stock + Net Purchases + Direct Expenses – Closing Stock

Net Purchases	= Purchases-Purchases Returns
	= Rs. 37,000-4,750
	= Rs. 32,275

Cost of goods sold	= Rs. 15,675 +32,275+1,123-1,775
	= Rs. 47,298

Gross Profit	= Net Sales – Cost of goods sold

Net Sales	= Sales – Sales Returns
	= Rs. 77,765 – 8,987
	= Rs. 68,778

Gross Profit	= Rs. 68,778- 47,298
	= Rs. 21,480

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