banner_ad

Closing stock - urgent

Others 1729 views 18 replies

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

 

Replies (18)

If Gross profit is 20 % then how cost of goods sold can be higher than sales.

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.

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.

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.

Ok i check the question agaon

Ok i check the question agaon

Please place the correct question .................

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.

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

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.

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

 

further it may treat closing stock on cost value

45000-9000 = 36000

take 20% on sale are equal 25% on cost.

But COGS = Opg Stock + Production or Purchased Stock - Clsg Stock ?

 

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

 

if question specially define only on cost then further it may treat closing stock on cost value

45000-9000 = 36000

take 20% on sale are equal 25% on cost.

 

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

 

if question specially define only on cost then further it may treat closing stock on cost value

45000-9000 = 36000

take 20% on sale are equal 25% on cost.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details