Multiple choice

Cost of goods sold is Rs. 72,000, opening stock is Rs. 23,000 and purchase is Rs. 1,12,000. What will be the value of closing stock?

  1. Rs. 63,000

  2. Rs. 17,000

  3. Rs. 1,61,000

  4. Cannot be determined

  5. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Closing stock = Opening stock + purchases - cost of goods sold. Closing stock = Rs. 23,000 + Rs. 1,12,000 - Rs. 72,000 = Rs. 63,000

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