inventories
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 February 2011
Dear Sir/Madam,
Consider the following for Alpha Co. for the year 2005-06:
Cost of goods available for sale Rs.1,00,000
Total sales Rs.80,000
Opening stock of goods Rs.20,000
Gross profit margin Rs.25%
Closing stock of goods for the year 2005-06 was
(a) Rs.80,000
(b) Rs.60,000
(c) Rs.40,000
(d) Rs.36,000.
ANS: Rs.60000.
Please tell how to calculate?
Consider the following for Alpha Co. for the year 2005-06:
Cost of goods available for sale Rs.1,00,000
Total sales Rs.80,000
Opening stock of goods Rs.20,000
Gross profit margin Rs.25%
Closing stock of goods for the year 2005-06 was
(a) Rs.80,000
(b) Rs.60,000
(c) Rs.40,000
(d) Rs.36,000.
ANS: Rs.60000.
Please tell how to calculate?
S.A.BADAMIKAR
(Expert)
25 February 2011
Sales 80000/-
Gp 25% =20000
Cost of Goods Sold Rs.60000
Opening Stock =20000
Goods available for Sale 100000
Total Available for Sale (20000+100000)(Assuming goods available for sale do not include Opening stock)
Closing Stock = 120000-60000=60000/-
Gp 25% =20000
Cost of Goods Sold Rs.60000
Opening Stock =20000
Goods available for Sale 100000
Total Available for Sale (20000+100000)(Assuming goods available for sale do not include Opening stock)
Closing Stock = 120000-60000=60000/-
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR9 Annual Return
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Employee secondment
- Reward for festival
- Ito add credit side of bank
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Appointment of Auditor By Form ADT-1
- Capital gain on commercial property and investment in residential property
- Gift to nri relatives resides in usa
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
