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Fundamentals of Accounting (CACPT)
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Cost of goods sold is Rs. 80,700
Opening inventory is Rs. 5,800
Closing inventory is Rs. 6,000
What is the amount spent on purchase?
AnswerClick to flip back
A
Rs. 80,900
💡 Explanation:
Purchases = Cost of goods sold - Opening stock + Closing stock
Purchases = Rs. 80,700 - Rs. 5,800 + Rs. 6,000
Purchases = Rs. 80,900