Multiple choice

Particulars June $2015$ July $2015$ August $2015$ Opening stock $4,08,000$ $4,34,400$ $4,60,800$ Credit Sales $15,00,000$ $16,00,000$ $17,00,000$ Cash Sales $2,00,000$ $2,10,000$ $2,20,000$ Selling price is $125\%$ of the purchase price. The cost of goods sold for the month of June, $2015$ is?

  1. Rs. $15,20,000$
  2. Rs. $14,02,500$
  3. Rs. $12,75,000$
  4. Rs. $13,60,000$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Cost of goods sold = Opening stock + Purchases - Closing stock. However, using the given data: Sales = 15,00,000 + 2,00,000 = 17,00,000. Selling price = 125% of cost, so Cost = 17,00,000 / 1.25 = 13,60,000.

AI explanation

Total sales for June 2015 are the sum of credit sales and cash sales, giving 15,00,000 + 2,00,000 = Rs. 17,00,000. The selling price is 125% of the purchase price, so the cost of goods sold is 17,00,000 divided by 1.25, which equals Rs. 13,60,000. The result is Rs. 13,60,000.

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