Fundamental account

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 April 2014 1. Calculate the closing stock on 31.03.2011
Particulars 31.3.2010 31.3.2011
Opening stock `30,000 `35,000
Purchases `3,25,000 `4,20,000
Sales `4,00,000 `5,00,000
The Gross profit margin remains unchanged
plz exain it sir

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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07 April 2014 Clo. stock as on 31.03.2011 Rs.55000

The gross margin of 2009-10 comes 20%, apply the same in 2010-11 and find balancing figure (i.e. closing stock of 31.03.2011)

gross profit calculated as under,

Sales XXX
+ Clo. stock XXX
(-) Purcase XXX
(-) Ope. stock XXX

Gross margin = gross profit X 100 / sales