Provide correct answer for this accounting question Calculate the stock in thebeginning in the followingcase:Sales Rs 1,00,8000; PurchasesRs 67,200; Closing Stock Rs4,800; Gross Loss on cost 1/8.

Step 1: Define Opening StockEvery accounting year, the company has some inventory left over from the…

Answered: Calculate the stock in the beginning in…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 2P

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If purchases = 320000, Turnover = $60000, Average Stock 580000, Carriage Outwards 24500 and Opening Stock = 56000 Calculate the Closing Stock.
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Calculate the stock in the beginning in the following case: Sales Rs 1,00,8000; Purchases Rs 67,200; Closing Stock Rs 4,800; Gross Loss on cost 1/8.