alleryStart learning →Opening stock 40,000; purchases 1,60,000; sales 2,00,000; gross profit 25% of sales. Closing stock?
ARs 40,000
BRs 60,000
CRs 1,50,000
DRs 50,000
Answer & Solution
Correct answer: D. Rs 50,000
Cost of goods sold = 2,00,000 - 50,000 = 1,50,000; goods available are 2,00,000, so closing stock is Rs 50,000.
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