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Question 5 Chapter 15 – Class 11 Unimax

Question 5 Chapter 15 – Class 11 Unimax

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Question 5 Chapter 15 – Class 11 Unimax

Opening stock ₹ 15,000 ; Sales 48,000 ; Carriage inward ₹ 3,000 ; Sales returns ₹ 3,000 ; Gross profit ₹ 18,000 ; Purchases ₹ 30,000 ; Purchases return ₹ 2,700. Calculate closing stock and cost of goods sold.

The solution of Question 5 Chapter 15 – Class 11 Unimax

 

=

₹ 48,000-₹ 3,000
  =₹ 45,000
Cost of goods sold =Net sales-Gross profit
 =₹ 45,000-₹ 18,000
 =₹ 27,000 
Cost of goods sold=Opening stock+ Purchases -Purchases return
   Carriage inwards-Closing stock
₹ 27,000=₹ 15,000+₹ 30,000-₹27,00
 +₹ 3,000
Closing stock=₹ 45,300-₹ 27,000
 =₹ 18,300

 

End of Solution


Check Out the Solution of all questions for this chapter:

The solutions to all questions of Chapter 15 – Financial Statements (Without Adjustments) Unimax – Class 11 are shown as follows, click on the image of the question to get the solution.

Question 5 Chapter 15 – Class 11 Unimax

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Question 17 Chapter 15 – Class 11 Unimax

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Question 29 Chapter 15 – Class 11 Unimax

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