Consider the following data pertaining to a company for the month of March 2005: Particulars ` Opening stock 22,000 Closing stock 25,000 Purchases less returns 1,10,000 Gross profit margin (on sales) 20%
The sales of the company during the month are (a) Rs.1,41,250 (b) Rs.1,35,600 (c) Rs.1,33,750 (d) Rs.1,28,400.
25 February 2011
Opening Stock 22000 Add: Purchases 110000 Total 132000 Less Clo. Stock 25000 Balance 107000 Balance means Cost of Sales which is 80% (100-20) Therefore Sales =107000/80% =133750
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