Calculate the opening stock from the following information: Sales Rs 60,000; Purchases Rs 35,000; Closing Stock Rs 5,000; Gross Loss on sales 1/6.

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
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Calculate the opening stock from the following information: Sales Rs
60,000; Purchases Rs 35,000; Closing Stock Rs 5,000; Gross Loss on
sales 1/6.
Transcribed Image Text:Calculate the opening stock from the following information: Sales Rs 60,000; Purchases Rs 35,000; Closing Stock Rs 5,000; Gross Loss on sales 1/6.
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