Question

Find the cost of goods purchased from the following details:
Opening stock Rs.8,000

Direct expenses Rs. 5,000
Sales Rs. 45,000

Indirect Expenses Rs. 3,500
Closing stock Rs. 2,000

Gross profit Rs. 5,000.

• A. 28,000
• B. 29,000
• C. 32,000
• D. 30,000

Answer 1

The correct option is B 29,000

This can be represented as:

Trading Account

Particuars Amount Particulars Amount

To Opening Stock 8000 By Sales 45000

To Purchases (balancing) 29000 By Closing Stock 2000

To Direct Expenses 5000

To Gross Profit 5000

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47000 47000

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