Stock on 15 th April, 2008 is~ 50,000. Purchases made in 2 ndweek is ~ 2000, sales made in 2 ndweek is ~ 12,000 Gross Profit onSales is 25%. Closing stock as on31"t March, 2008 will be:
(a) ~ 75,000
(b) ~ 57,000
(c) ~ 60,000
(d) ~ 50,000
To find the closing stock as of 31st March, 2008, we need to calculate the opening stock, total purchases, and total sales during the period.
Given:
Stock on 15th April, 2008 = 50,000
Purchases made in the 2nd week = 2,000
Sales made in the 2nd week = 12,000
Gross profit on sales is 25%
To calculate the opening stock, we need to subtract the purchases made in the 2nd week from the stock on 15th April:
Opening stock = Stock on 15th April, 2008 - Purchases made in the 2nd week
Opening stock = 50,000 - 2,000
Opening stock = 48,000
To calculate the total purchases during the period, we need to add the purchases made in the 2nd week to the opening stock:
Total purchases = Opening stock + Purchases made in the 2nd week
Total purchases = 48,000 + 2,000
Total purchases = 50,000
To calculate the total sales during the period, we need to subtract the sales made in the 2nd week from the total purchases:
Total sales = Total purchases - Sales made in the 2nd week
Total sales = 50,000 - 12,000
Total sales = 38,000
To find the closing stock as of 31st March, 2008, we can use the formula:
Closing stock = Opening stock + Total purchases - Total sales
Closing stock = 48,000 + 50,000 - 38,000
Closing stock = 60,000
Therefore, the closing stock as of 31st March, 2008 is approximately ~60,000.
The correct answer is (c) ~60,000.