Calculate the gross profit /loss if:

Sales Rs. 90,000; Closing stock Rs. 40,000; Opening stock Rs. 40,000; Purchases Rs.40,000; Wages Rs. 20,000.

Loss of Rs. 10,000

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Profit of Rs. 30,000

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Loss of Rs. 20,000

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Profit of Rs. 40,000

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Solution

The correct option is B
Profit of Rs. 30,000

Gross Profit
=Sales + Closing stock - Opening stock - Purchases - Wages

= Rs. 90,000 + Rs. 40,000 - Rs. 40,000 - Rs. 40,000 - Rs. 20,000

= Rs. 30,000

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Calculate the gross profit /loss if: Sales Rs. 90,000; Closing stock Rs. 40,000; Opening stock Rs. 40,000; Purchases Rs.40,000; Wages Rs. 20,000.

The correct option is B Profit of Rs. 30,000 Gross Profit =Sales + Closing stock - Opening stock - Purchases - Wages = Rs. 90,000 + Rs. 40,000 - Rs. 40,000 - Rs. 40,000 - Rs. 20,000 = Rs. 30,000

Calculate the gross profit /loss if:

Sales Rs. 90,000; Closing stock Rs. 40,000; Opening stock Rs. 40,000; Purchases Rs.40,000; Wages Rs. 20,000.

The correct option is B
Profit of Rs. 30,000

Gross Profit
=Sales + Closing stock - Opening stock - Purchases - Wages

= Rs. 90,000 + Rs. 40,000 - Rs. 40,000 - Rs. 40,000 - Rs. 20,000

= Rs. 30,000