Calculate Closing Stock as on 30.6.2015
Stock as on 1.1.2015 ₹ 70,000 , Purchase from 1.1.2015 to 30.6.2015 ₹ 6,00,000 , Sales from 1.1.2015 to 30.6.2015 ₹ 8,80,000 , G.P. Ratio for 2014 was 30%. In 2015, the cost of purchases and selling prices have increased by 20% and 10% respectively above the levels prevailing in 2014.
Solution
Closing Stock: on FIFO basis = ₹ 12,000 & on LIFO Basis ₹ 10,000
Please explain above solution specially Gross Profit 2,22,000 & Closing Stock
Stock as on 1.1.2015 ₹ 70,000 , Purchase from 1.1.2015 to 30.6.2015 ₹ 6,00,000 , Sales from 1.1.2015 to 30.6.2015 ₹ 8,80,000 , G.P. Ratio for 2014 was 30%. In 2015, the cost of purchases and selling prices have increased by 20% and 10% respectively above the levels prevailing in 2014.
Solution
Closing Stock: on FIFO basis = ₹ 12,000 & on LIFO Basis ₹ 10,000
| Particulars | 2014 ₹ |
2015 ₹ |
Particulars | 2014 ₹ |
2015 ₹ |
| To Opening Stock | 70,000 | 70,000 | By Sales | 8,00,000 | 8,80,000 |
| To Purchase | 5,00,000 | 6,00,000 | By Closing Stock (Balancing Figure) | 10,000 | 12,000 |
| To Gross Profit @30% on normal sales | 2,40,000 | 2,22,000 | |||
| 8,10,000 | 8,92,000 | 8,10,000 | 8,92,000 |
Please explain above solution specially Gross Profit 2,22,000 & Closing Stock
Calculate Closing Stock as on 30.6.2015
0 commentaires:
Enregistrer un commentaire