Find closing Stock
Stock(1/1/2002) - 70,000
Purchases(1/1/02 - 30/6/02) -6,00,000
sales(1/1/02 - 30/6/02) - 880000
GP ratio for 2001 - 30%
in 2002 cost of purchases and selling prices have increased by 20% and 10% respectively
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In my book, Gp @ 30% for 2002 = 222000
my answer does not match because 30% of 880000 = 264000
CAclubindia
