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Problem 3 Chapter 1 – Unimax Publications of Class 11
From the following calculate Gross Profit/Gross Loss.
| Rs. | |
| Opening Stock | 20,000 |
| Net Purchases | 95,000 |
| Net Sales | 1,00,000 |
| Closing Stock | 12,000 |
| Indirect Expenses | 2,000 |
| Direct Expenses | 3,200 |
The solution of Problem 3 Chapter 1 – Unimax Publications of Class 11
| (i) Cost of goods sold | = Opening Stock + Net Purchases + Direct Expenses |
| = Rs. 20,000+95,000+3,200-12,000 | |
| = Rs. 1,06,200 |
| (ii) Gross loss | = Cost of goods sold – Net Sales |
| = Rs. 1,06,200-1,00,000 | |
| = Rs. 6,200 |
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