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# Closing stock - urgent

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 Hemchand IPCC [ Scorecard : 742] Posted On 12 June 2012 at 09:54 please solve the following question:    Cost of Goods Sold Rs. 100,000.00 Sale Rs. 80,000.00 OPening Stock Rs. 20,000.00 Gross Profit Margin 20% &  what will be closing stock ashish gupta student [ Scorecard : 1884] Posted On 12 June 2012 at 10:00 If Gross profit is 20 % then how cost of goods sold can be higher than sales. frank owner [ Scorecard : 86] Posted On 12 June 2012 at 11:23 COGS cannot be higher than the sales unless the goods are sold for a loss. Ashish is right. Hemchand please check whether the goods are sold below the cost price. frank owner [ Scorecard : 86] Posted On 12 June 2012 at 11:25 COGS cannot be higher than the sales unless the goods are sold for a loss. Ashish is right. Hemchand please check whether the goods are sold below the cost price. frank owner [ Scorecard : 86] Posted On 12 June 2012 at 11:27 COGS cannot be higher than the sales unless the goods are sold for a loss. Ashish is right. Hemchand please check whether the goods are sold below the cost price. Hemchand IPCC [ Scorecard : 742] Posted On 12 June 2012 at 12:59 Ok i check the question agaon Hemchand IPCC [ Scorecard : 742] Posted On 12 June 2012 at 13:02 Ok i check the question agaon BHARAT BAMBHAROLIYA CA FINAL [ Scorecard : 57] Posted On 12 June 2012 at 15:54 Please place the correct question ................. MOHD ANZAR ALI ARTILCES [ Scorecard : 55] Posted On 12 June 2012 at 16:58 since COGS = 100000 WHERE SALE = COGS+ PROFIT THEN TOTAL SALE AVAILABLE =100000+25000 HENCE AVAILABE FOR SALE = 125000 ACTUAL SALE 80000 THEN CLOSING STOCK = 125000-80000 = 45000 take 20% on sale are equal 25% on cost. Hemchand IPCC [ Scorecard : 742] Posted On 12 June 2012 at 17:01 Ya but in Books this was the question, and i think question is wrong and what will be closing stock if there is Gross Loss 20% instead of GP

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