Inventories

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 February 2011 Dear Sir/Madam

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.

ANS: Rs.133750.

Please tell how to calculate?

S.A.BADAMIKAR

S.A.BADAMIKAR (Expert)
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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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