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Cost of good sold

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 July 2013 The total cost of goods available for sale
with a company during the current year is
`12,00,000 and the total sales during the
period are `13,00,000. Gross profit margin
of the company is 33 1/3 % on cost. The
closing inventory for the current year
would be —
(A) `4,00,000
(B) `3,00,000
(C) `2,25,000
(D) `2,60,000.
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Prashanth

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Prashanth (Expert)
28 July 2013 Hello

Calculation=13,00,000*100/133.33333=2,25,000
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