Opening Stock Rs. 1,00,000, Sales Rs. 5,00,000, Gross Profit @ 25% on sales, Purchases Rs. 5,00,000, Closing stock is ___________.

Rs. 1,25,000

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Rs. 2,25,000

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Rs. 3,00,000

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Rs. 3,25,000

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Solution

The correct option is B Rs. 2,25,000
Closing stock = (Opening stock + purchases + gross profit) - sales
= (1,00,000 + 5,00,000 + 1,25,000) - 5,00,000
= 2,25,000
Working notes : -
Calculation of gross profit
= 25% of 5,00,000
= 1,25,000

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A business has compiled the following information for the year ended 31st March, 2018:

Particulars	Rs.
Opening Stock	5,00,000
Sales	12,00,000
Purchases	10,00,000

The gross profit as a percentage of sales is 25% on sales.
Based on these figures, what is the amount of closing stock as at the end of the year?

Calculate closing stock and cost of goods sold. Opening stock Rs. 5,000 ; sales Rs. 16,000; carriage inwards Rs. 1,000, sales return Rs. 1,000; gross profit Rs. 6,000; purchases Rs. 10,000; purchases return Rs. 900.

Calculate closing stock from the following details opening stock Rs. 20,000; cash sales Rs. 60,000; credit sales Rs. 40,000; purchases Rs. 70,000. Rate of gross profit on cost $33 \frac{1}{3} %$ .

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Opening Stock Rs. 1,00,000, Sales Rs. 5,00,000, Gross Profit @ 25% on sales, Purchases Rs. 5,00,000, Closing stock is ___________.

The correct option is B Rs. 2,25,000Closing stock = (Opening stock + purchases + gross profit) - sales = (1,00,000 + 5,00,000 + 1,25,000) - 5,00,000 = 2,25,000Working notes : - Calculation of gross profit = 25% of 5,00,000= 1,25,000

The correct option is B Rs. 2,25,000
Closing stock = (Opening stock + purchases + gross profit) - sales
= (1,00,000 + 5,00,000 + 1,25,000) - 5,00,000
= 2,25,000
Working notes : -
Calculation of gross profit
= 25% of 5,00,000
= 1,25,000