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praveen karumanchi

· started a discussion

· 1 Months ago

ans (Question: 347578.0 )

cost of goods sold = o/p stock + purchases +c/s stock

CGS = 12000+60000-9000

= 63000

Gross profit on sales was 1/5th on sales

on cost of goods is 1/4th on cost of goods

=1/4 on 63000

= Rs 15,750/-



then how option C correct

pls explain if wrong

or corret the answer if right.

Question:

If the purchases made during the year were Rs. 60,000, the balance of stock in trade at the beginning and at the end of the year were Rs. 12,000 and Rs. 9,000 respectively and the gross profit on sales was 1/5th, when which one of the following represents the figure of gross profit for the year ?

Options:
A)

Rs. 15,750 

B)

Rs. 14,000

C)

Rs. 12,500 

D)

Rs. 17,250

Solution:

Ans: (c)

praveen karumanchi

· commented

· 1 Months ago

Yet to be approved!
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