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Question 10 Chapter 1 – Unimax Publications of Class 11
10. From the following data of Manjul , Find out the cost of goods sold and sales for the year 2020-21
| Rs. | |
| Opening Stock | 50,000 |
| Purchases during the year | 4,00,000 |
| Purchase return | 20,000 |
| Import duty | 20,000 |
| Closing Stock | 60,000 |
G. P. 25% on sales
The solution of Question 10 Chapter 1 – Unimax Publications of Class 11
| COGS | = Opening Stock + Net Purchases + Direct Expenses – Closing Stock |
| = Rs. 50,000 + (4,00,000-20,000)+20,000 – 60,000 | |
| = Rs. 50,000+3,80,000+20,000-60,000 | |
| = Rs. 4,50,000-60,000 | |
| = Rs. 3,90,000 | |
| G.P | = 25 % on Cost | |
| = 3,90,000 X | 25 | |
| 100-25 | ||
| = 3,90,000 X | 25 | |
| 75 | ||
| = Rs. 1,30,000 | ||
| Sales | = G.P. + C.O.G.S |
| = Rs. 1,30,000+3,90,000 | |
| = Rs. 5,20,000 |
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