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Question 9 Chapter 1 – Unimax Publications of Class 11
9. From the following data of Nagma. Find out the cost of good sold and sales for the year 2020-21.
| Rs. | |
| Opening Stock | 50,000 |
| Purchases during the year | 1,50,000 |
| Clearing charges | 20,000 |
| Closing stock | 30,000 |
G.P. 15% on Cost
The solution of Question 9 Chapter 1 – Unimax Publications of Class 11
| COGS | = Opening Stock + Net Purchases + Direct Expenses – Closing Stock | |
| = Rs. 50,000+ 1,50,000+ 20,000-30,000 | ||
| = Rs. 1,90,000 | ||
| GP | = 15 % on Cost | |
| = 1,90,000 X | 15 | |
| 100 | ||
| = Rs. 28,500 | ||
| Sales | = GP + COGS |
| = Rs. 28,500+1,90,000 | |
| = Rs. 2,18,500 |
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